What are you doing this weekend? Doral Mayor Christi Fraga and a bunch of legislators are going to chat about the repercussions of new condo laws and issues on Saturday.
Florida State Sen. Bryan Avila, State Reps. David Borrero and Juan Carlos Porras and Miami-Dade State Attorney Katherine Fernandez Rundle will participate in a day-long “information session” at the Doral Cultural Arts Center.
“This event aims to provide invaluable insights into the laws governing homeowners’ associations and condominiums, as well as essential tips for fraud prevention,” Fraga said in an email. “Whether you’re a long-time resident or new to our community, understanding your rights and responsibilities as a homeowner is crucial.
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“Our expert speakers will cover a wide range of topics, including legal advice tailored to address your concerns and questions” Fraga said.
In addition to the electeds, the event will have Tamara Reyes, president of South Florida Property Owners Consulting , real estate attorney Dana Goldman and representatives from the Miami-Dade Police Department’s Economic Crimes Bureau and the Florida Department of Business and Professional Regulation.
Condo law has become a big issue in recent years with the collapse of the Champlain Tower building in 2021, which killed 98 people, and the theft of more than $4 million at the Hammocks Homeowners Association in Kendall, where four board members were arrested in 2022 for massive fraud. This year, legislators unanimously passed two bills that impose the same strict criminal penalties for a bunch of shady condo dealings, especially dealing with records.
The new laws makes it a first-degree misdemeanor for any HOA board member or property manager to intentionally deface and destroy financial and/or accounting records or to intentionally fail to create and/or maintain them and a second-degree misdemeanor to reuse to provide them when requested.
That’s nice, but hardly a deterrent when it’s better than a third-degree felony charge for getting a kickback.
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All condo developments over 30 years old — the majority of condo buildings in the state are older than 30 — will also be require to undergo inspections, address critical issues and build up reserve funds for anticipated repairs and future maintenance, which will end up costing homeowners and tenants.
The new regulations are detailed and specific. HOAs have to keep records — minutes from meetings, contracts with vendors, board elections results, tax and bank or investment records — for at least seven years. Board members will be required to complete an 8-hour or 4-hour (depending on size of the community) which will cover transparency in record keeping, fines, and notice requirements for meetings. HOAs with 100 homes or more will have to post some of these records online. They must also pots meeting notices and agendas 14 days in advance and contracts up for a vote a week in advance.
The Florida Department of Business and Professional Regulation will get $74 million and 65 new full-time staffers to implement and enforce the new rules. By January of next year, the DBPR must have an online database of HOAs that have completed the new state-mandated structural integrity studies.
There’s more. It’s a lot. Which is probably why there is a whole day dedicated to it.
This informational session is from 9 a.m. to 4 p.m. at Doral Cultural Arts Center, 8363 NW 53rd St.
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