Affected by SB 154 Special Assessments in Hollywood?
Mandatory Milestone inspections and Structural Integrity Reserve Studies (SIRS) for 30+ year old condos are triggering special assessments ranging from $30k to $200k per unit. Know your exit strategies before your equity is wiped out.
What Does SB 154 Require?
Following the Surfside tragedy, Florida condo regulations changed completely:
- Milestone Inspections: Mandatory structural evaluations for buildings of 3 stories or more upon reaching 30 years.
- No Funding Waivers: Starting 2025, associations can no longer waive or reduce reserve funding for structural integrity.
- Special Assessments: If reserves are unfunded, associations must demand immediate special assessments from owners.
Your Alternatives
Your 3 Contingency Plans
Venta House Miami guides you personally to assess which strategy fits your situation best:
1. Cash Buyer Exit
Sell to investors who assume the upcoming assessment, relieving you of the debt.
2. Strategic Downsizing
Sell your condo and transition to a single-family home or townhouse free of HOA reserve liabilities.
3. Reserves Audit
We evaluate the financial standing of your building to review options.
Request a Free & Confidential Consultation
Complete the form below to receive a preliminary analysis of exit options for your pre-1990 condo in Hollywood, FL.