NEW SMYRNA BEACH, Fla. – Even though the deadline is not until Dec. 31, Volusia County officials are urging condo associations to start getting their milestone inspections done.
It’s part of a state law created after the Surfside condo collapse in Miami back in 2021, but the deadline for inspections is at the end of 2024.
The Volusia County Council just approved a $250 processing fee and is now going to condo associations if they meet the criteria needed for the inspections.
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The county said there are more than 80 condo buildings in Volusia that still need to get the milestone inspection done.
“It’s a lot to think about right now. So, we have an engineer luckily,” said Linda Marsden, manager of Ocean Reef Villas.
With dozens of condos in need of inspections and a limited number of engineers, though, the pressure is on.
“I’m not sure what number but we’re in line and hopefully we’re towards the top of the list,” Marsden said.
As part of SB 4-D, any condo building taller than three stories and older than 30 years has to do a milestone inspection by Dec. 31. If the building is within three miles of the coast, it’s 25 years or older.
There are two parts of the inspection — one is of the actual structure, and the other is proving their financial reserves are fully funded for inspections and potential future repairs.
Bob Delrose of Surfcoast Realty told News 6 that the reserve funds are where it is getting tricky for many condos. He gave an example of one condo in Ormond Beach he works with.
“They for the last 50 years have been putting $25,000 a year in their reserves,” said Delrose. “After this study, they’re asking them to put $170,000 per year in the reserves,”
Delrose said the law’s language is confusing, too, causing some condos to spend more.
“Mainly because they don’t know what components are required and they call a ‘reserve study company’, and they come in and try to give you a window of what they think you’ll spend in 30 years,” Delrose said.
Those costs then trickle down to each condo unit adding to the skyrocketing insurance costs and in Volusia, the costs to rebuild after the 2022 hurricanes.
“It’s so much pressure and two hurricanes, not just one, two, and we’re still kind of recovering,” said Marsden.
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