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Condo Association Corruption Targeted By New Florida Laws
Manage episode 430584549 series 3242606
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This latest issue of the Miami Condo Market Intelligence Report™ is the fourth of a five-part series examining dramatic changes coming as a result of the Surfside condo collapse.
Volume 2024, Issue 25
To subscribe to the Miami Condo Market Intelligence Report™, please visit CondoVultures.com
In this week’s Miami Condo Market Intelligence Report™ newsletter, we explore some of the new Florida laws that went into effect this month (July 2024) that are aimed at stomping out corruption at condo association in the Sunshine State.
Board members, property managers and management companies, alike, now face a wide range of sanctions ranging from criminal charges to fines, license revocation to removal from office for board members for offenses such as accepting or soliciting kickbacks, not disclosing conflicts of interest and refusing to share information with unit owners.
The new laws are part of the 2024 revisions adopted by the Florida Legislature in March, signed by Florida Gov. Ron DeSantis (R) in June and went into effect in July 2024.
For context, there are about 13,000 condo associations with nearly 610,000 units located in the tricounty South Florida region of Miami-Dade, Broward and Palm Beach.
This is the fourth of a five-part series examining the repercussions of the collapse of the Champlain Towers South on the barrier island in Miami-Dade County on June 24, 2021.
To read the MIR newsletter, please visit: https://peterzalewski.substack.com/p/condo-association-corruption-targeted
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