There were 22 condos that sold in Champlain Towers in the 12 months prior to the June 23, 2021 collapse. A 2018 inspection report revealed major structural defects.
- Did the buyers of the 22 condos receive a copy of the inspection report prior to their purchase?
- Did the management company put the inspection report on the condo website?
- It's possible Sellers didn't attend board meetings or review the condos website.
The Solution
We need to take former Governor Rick Scott's law a step further and require FULL TRANSPARENCY by all condo and homeowner associations.
This will be extremely helpful to buyers, sellers, management companies, lenders and realtors. It will also help to eliminate lawsuits for failure to disclose. Realtors and Buyers spend a lot of time chasing documents that should be publicly available.
Suggested Changes to Florida Law:
- Condo websites should be public and not require a log-in
- Remove the 150 unit minimum and require all condos to have public websites
- Require the following documents on the website:
- All inspection reports
- All board meeting minutes (past 12 months)
- All active lawsuits
- Current Financials & Approved Budget
- Condo documents
- Current Rules & Regulations
- Application to Lease/Sell
- Copy of Insurance Policies
- An Up to Date Condo Questionnaire (required by lenders)
