The South Florida skyline is aging, and since the tragic collapse of Champlain Towers South, the state Legislature has rightfully prioritized reform of Florida statutes governing condominiums. Two-thirds of all condominiums in Florida are more than 30 years old, and may be reaching the end of their useful lives, particularly in harsh coastal areas. As now-mandatory structural integrity reserve studies are completed and previously waived reserves for capital expenses and deferred maintenance are required and assessed, condominium termination will become an increasingly attractive solution to owners in aging condominiums, with the added benefit of promoting new, more resilient development. To leverage the benefits of this unique environment, clarity concerning the circumstances in which amendments to Florida's Condominium Act will apply to free condominium owners of strict termination provisions in their governing documents is essential. As the recent Biscayne 21 decision from the Third District Court of Appeal confirms, if the Legislature fails to comprehensively address the issue, courts will do so on a case-by-case basis.

Florida's statutory scheme governing condominiums is undergoing legislative reform. Under Senate Bill 4D, adopted during the 2022 Legislative session (and further revised in 2023), residential condominiums with three or more stories must complete a structural integrity reserve study (SIRS) by Dec. 31, 2024. By law, a SIRS must involve a visual inspection of specified structural components of the condominium property, as well as an estimate of the remaining useful life and the cost to replace or maintain each component inspected, and a reserve funding schedule that will timely achieve the identified replacement costs or deferred maintenance expenses. Further, for budgets adopted on or after Dec. 31, 2024, unit owners are no longer permitted to waive the collection of reserves or insufficient reserves for the structural components inspected during the performance of the SIRS.