Florida’s condo reform laws were designed to protect people especially after the tragedy in Surfside. But the reality is, those laws have sent monthly costs through the roof in many South Florida cities. For older residents on fixed incomes, it’s not just uncomfortable. It’s unsustainable. Governor Ron DeSantis has a proposal to help. But the question is will it actually make a difference?
Why Condo Costs in Florida Are Climbing
In 2025, Florida’s condo reserve requirements go into full effect. These new rules force buildings to fully fund reserves for major repairs, and for many older condos, that means assessments of $20,000 or more per unit.
It’s hitting seniors especially hard. Many have owned their units for years, and they simply don’t have the income to keep up with the rising costs. Unfortunately, some have already been forced to sell. If you’ve been watching condo sales in Boca Raton, you might’ve noticed more inventory in older buildings and lower asking prices. It’s all tied to this shift.
The DeSantis Proposal: Direct Help for Seniors
Governor DeSantis wants to set aside $20 million to help long-term condo residents 60 and older who are facing special assessments. The funding would come through an expansion of the Florida Hometown Heroes program, which traditionally supports essential workers and first responders.
To qualify, seniors would need to:
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Be 60+ years old
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Have lived in their condo for 10 years or more
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Face assessments that could push them out of their homes
These proposals come on top of sweeping legislation already set to hit Florida condo owners in 2025. Under laws passed in 2022, all buildings three stories or taller must undergo milestone structural inspections by January 1, 2025, especially those near the coast. For seniors living in older beachfront condos, that means engineers will soon be evaluating everything from balconies to foundation slabs. And for many communities, this could lead to millions in repair work.
Associations can no longer waive reserve funding either. As of December 31, 2024, condos must have fully funded reserves based on a professional study. That’s a huge shift for many buildings that used to keep fees low by postponing savings. For seniors on fixed incomes, this is where the financial pressure is coming from and it’s why DeSantis’ proposal to expand aid has sparked attention across the state.
HOA and Condo Reform: More Than Just Money
Alongside financial aid, there’s another growing movement: condo board reform in Florida.
Lawmakers are proposing changes like:
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Term limits for board members
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Stricter rules on financial disclosures
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Transparent election processes
There’s been too much mismanagement and in some cases, outright fraud in buildings across the state. Residents are fed up, and they want accountability.
Florida Condo Insurance Is Still a Problem
Another major stress point is insurance. Even newer buildings aren’t immune, but older condos are seeing the worst of it. In 2025, lawmakers are hoping to make adjustments like:
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Expanding eligibility for Citizens Property Insurance
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Offering an “insurer of last resort” for associations who can’t find coverage
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Clarifying what buildings must carry under the updated laws
If you’re a buyer working with Boca Raton real estate agents, this is one of the first things they’ll flag for you — which buildings still have insurable risk, and how it affects your monthly costs.
A Tipping Point for Older Condo Buildings
For buyers and sellers in places like Boca Raton, this is a defining moment. Older buildings may continue to lose value, especially if they’re not financially sound. But newer buildings with reserves in place, strong management, and updated systems — remain in high demand.
That’s why you’re seeing such a split in the market. And it’s why working with someone who understands the details of South Florida real estate really matters right now.
Preparing for What's Next
The South Florida condominium marketplace has reached a crossroads. Though older buildings will see values decline, the latest condos are still hot commodities. If you're looking to buy or sell, make sure you're working with professionals who understand the nuances of the market.
For expert advice, contact The Mastropieri Group, Realtors® at 561-544-7000. With lots of experience in Boca Raton real estate, they can guide you through these changing times and help you accomplish your goals with clarity and confidence.
Posted by Larry Mastropieri on
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