Florida's extended deadline for condominium reserve studies passed at the end of last year, and the financial consequences are now landing on individual unit owners. Buildings across South Florida have completed the structural inspections and reserve studies mandated in the wake of the 2021 Surfside collapse, and many condominium boards are responding with substantial special assessments. At Perez Mayoral, P.A., a Coral Gables real estate firm that represents owners rather than associations, those bills are generating new questions about what owners can be required to pay and what they can legally challenge.
The regulatory backdrop changed significantly after the Surfside tragedy. In 2022, Florida enacted SB 4-D, which required older condominium buildings to complete milestone structural inspections and reserve studies. In 2025, HB 913 revised those obligations. It extended the reserve study deadline to the end of 2025, raised the reserve threshold for covered components, and allowed associations to fund reserves through special assessments, loans, or lines of credit with owner approval. While framed as relief, the law primarily gives boards more ways to raise or borrow money, and the cost still flows to owners.
Older buildings in communities such as Coral Gables are especially exposed, because years of deferred maintenance are surfacing at once. According to Perez Mayoral, not every assessment is proper, and not every board follows the association's declaration, also known as the governing documents or rules and regulations. Owners often have grounds to push back when their association adopts assessments without the notice or votes the law requires, mismanages or misapplies reserve funds, ignores repairs while charging owners for the neglect, or enforces rules selectively.
"Some of these charges are legitimate, and some are not," said Erik A. Perez, co-founder of Perez Mayoral, P.A. "Owners have real rights here, and the earlier they understand them, the more options they have."
The implications for South Florida owners are significant. Special assessments can reach tens of thousands of dollars per unit, straining household finances and potentially forcing some owners to sell or face foreclosure. For the broader condominium market, the wave of assessments could dampen property values and slow sales, particularly in older buildings. Boards, meanwhile, face pressure to comply with safety mandates while managing limited budgets.
Perez Mayoral, P.A. is a South Florida litigation firm devoted to representing homeowners and unit owners against their associations, never the associations themselves. From its multiple office locations throughout the state, it handles association litigation, improper assessments, denied repairs, and real estate disputes statewide. Owners with legal questions are welcome to reach out and request a consultation with the firm.
