A measure to provide Condo onwers economic relief is now headed to the governer's desk. Here are some parts of SB 1196, which passed the Florida House this week.
- Delinquencies: Allows an association to collect delinquent assessments directly from tenants when the unit owner/landlord is delinquent.
- Condominium Insurance: Repeals a requirement that condo owners purchase individual unit owner insurance.
- Rental Units – Assessment Delinquencies: Provides new statutory procedures that allow an association to collect delinquent financial obligations directly from rental payments if a tenant is occupying the unit.
- Assessment Delinquencies – Suspension of Use Rights: Permits the association to suspend use rights to common areas if an owner is more than 90 days delinquent in a financial obligation due the association. It also provides for due process procedures when the association imposes a suspension, fine or other penalty.
- Distressed Communities – Bulk Buyer: Provides for the modified regulation of a purchaser of condominium units in "bulk" in cases of financial distress or pending bankruptcy. It also provides regulations for the protection of existing unit owners.
- Assessment Responsibility: Increases the responsibility of a mortgagee for delinquent assessments from 6 months to 12 months or 1 percent of the original mortgage balance, whichever is less.
- Fire Sprinklers: Extends the deadline for retrofitting fire sprinklers from 2014 to 2019, and it eliminates the restriction on unit owners to waive the retrofit requirement. It also provides that building permits for the retrofit must be applied for by Dec. 31, 2016, if the community does not vote for the exemption.
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