Florida's New Condo Law (HB 913): What Changed July 1 for Owners, Buyers and Investors
Florida's condo rules changed again on July 1, 2025. House Bill 913 was signed into law in June. It took effect this week, and it gives condo associations, owners and buyers some breathing room and more flexibility after the tough reforms that followed the Surfside collapse.
If you own a condo as an investment, are thinking about buying one in Sarasota or Bradenton, or plan to sell a unit, here's what changed and what to watch.
The Big Headline: More Time for the SIRS
Under the prior law, many condo associations had to finish a structural integrity reserve study (SIRS) by December 31, 2024. According to the Legislature's final bill analysis, HB 913 extends that deadline to December 31, 2025 for affected associations. Associations that hadn't finished now have more time to get it done right.
The bill also clarifies that milestone inspections and SIRS requirements apply to buildings that are three habitable stories or more.
New Ways to Fund Reserves
This is the part investors will care about most, because it affects monthly dues and assessments. Per the bill analysis, HB 913:
Allows SIRS reserves to be funded with special assessments, lines of credit or loans, not just regular dues. Using these tools requires approval by a majority of the total voting interests.
Allows pooled reserve accounts and a baseline funding plan for the reserve schedule. That gives boards more options than funding every component separately.
Creates a temporary pause option. For budgets adopted on or before December 31, 2028, if the association completed a milestone inspection within the previous two calendar years, owners can vote (majority of total voting interests) to pause or reduce reserve contributions for up to two consecutive annual budgets. The goal is to put that money toward the repairs the inspection identified. A new SIRS is required afterward.
Raises the threshold for budget reserve items from $10,000 to $25,000, adjusted for inflation going forward.
Lets associations invest reserves in certificates of deposit or depository accounts without a vote of the owners.
For owners facing large increases, these changes may spread costs out over time instead of hitting all at once. They don't make the repairs cheaper, though. The work still has to be funded.
Budget, Meeting and Transparency Changes
A few more provisions worth knowing:
Substitute budget rule. If a proposed budget would raise assessments above 115% of the prior year, the board must also propose a substitute budget without discretionary spending.
Video-conference meetings are allowed, with recording requirements.
More time for financial reports. Associations have 180 days after the fiscal year ends, instead of 120, to deliver the annual financial report.
Online account with the state. All condo and co-op associations must create an online account with the Division of Florida Condominiums, Timeshares, and Mobile Homes by October 1, 2025, to provide requested information.
Websites for more associations. Starting January 1, 2026, the requirement to post key documents online expands to associations with 25 or more units, under the 2024 law as amended.
Insurance appraisals. Replacement-cost values used for association insurance must be updated at least every three years.
Hurricane protection and evacuations. The bill limits when an association can charge an owner for removing or reinstalling hurricane protection. It also requires condo properties to be evacuated under any evacuation order for the area, not just mandatory ones.
What This Means for Condo Investors in Manatee & Sarasota
Underwrite the building, not just the unit. Before you buy, ask for the SIRS (or its status), the milestone inspection summary if one applies, the current budget, reserve balances, and any approved or proposed special assessments, loans or lines of credit. With the new financing options, an association could take on a loan that owners repay over time. That's a real cost in your cash-flow math.
Watch for pauses. A building that pauses reserve contributions to fund repairs may have lower dues today, but the pause has an end date and a new study afterward. Plan for dues to rise again.
Read the meeting minutes. Boards are making big decisions about funding methods right now. Minutes often tell you more than the budget.
For Sellers
If you're selling a condo, ask your association now where it stands on the SIRS, inspections and funding plan. Buyers, their lenders and their insurers will want those answers, and a seller who has them ready keeps the deal moving.
For Buyers
This law doesn't remove the need for due diligence. If anything, more funding options mean more variety from building to building. Two similar units in the same neighborhood can have very different financial pictures.
Let's Read the Documents Together
Condos can be great opportunities. The key is knowing exactly what you're buying into. If you're considering a condo in Manatee or Sarasota, I'll help you request and review the right documents. Call or text me at (941) 993-8311 or reach out through my contact page.
Luis Odon, REALTOR® Keller Williams Coastal Living II (941) 993-8311
This article is general information only and is not legal or financial advice. It summarizes the Legislature's bill analysis; consult a Florida attorney or your association's professionals about your specific building. Equal Housing Opportunity.
