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The collapse of the Champlain Towers led to widespread calls for reforms in building maintenance and regulation requirements. In response, SB-4D was passed to address building safety concerns, requiring significant increases in reserve funds for future repairs and compliance with new structural inspection laws. However, some groups, including USCFAR, believe that these measures were implemented without fully considering the financial implications for property owners.
"We believe SB-4D was rushed into law as a reactionary measure. The required reserves were too much, the compliance deadlines were too soon, and worst of all, it was passed without the consensus of the property owners who now must bear the burden," said Ann Hirsch, Founder and Community Liaison at USCFAR.
Impact on Homeowners and the Insurance Industry
USCFAR contends that while the law aims to protect residents, it has inadvertently benefited the insurance industry instead. According to the organization, the heightened requirements shift financial responsibilities away from insurers and onto homeowners, who are already facing significant financial pressures.
“Instead of providing reasonable and well-paced solutions for safety and affordability, SB-4D has done little more than serve as a protective mechanism for the insurance cartel," said Hirsch. She further noted that homeowners are "left scrambling to meet expensive and unrealistic reserve fund requirements."
Concerns About Potential Developer Interest
USCFAR also warns that the financial pressures created by SB-4D could make it very difficult for many condo and co-op owners to remain in their homes. As a result, many owners may be forced to sell their homes as distressed properties, which the organization fears, “could lead to a catastrophic collapse of the condominium and co-op market in Florida's coastal areas.”
Calls for Reassessment
As the effects of SB-4D continue to unfold, USCFAR reports increasing dissatisfaction from condo and co-op associations. Many owners are facing escalating costs and, in some cases, the risk of losing their homes entirely.
USCFAR is advocating for a reassessment of the law, calling for changes that would reduce the immediate financial burden on homeowners and extend compliance deadlines. "It’s time the government worked for the benefit of the people and not for the insurance industry or other special interests,” said Hirsch. The organization is encouraging lawmakers to work directly with property owners to develop solutions that address safety concerns while taking into account the financial realities faced by those affected.
About USCFAR
USCFAR (US Coalition for Association Reform) exclusively represents property owners living in HOA, condo, co-op, and other communal associations. The organization supports protecting individual and property rights and promoting fair governance in planned and common interest communities.
Property Owners: Get informed, join the fight at www.uscfar.com, and stand up for your rights.
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Ann Hirsch
US Coalition For Association Reform
+1 561-288-2813
[email protected]
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