A Guide to Purchasing a South Florida Condo

South Florida condos remain popular as low-maintenance vacation homes or downsizing options, especially near beaches and golf courses. The association typically handles most exterior and common-area maintenance. However, buying a condo differs significantly from a single-family home due to shared ownership, strict governance, and major financial and safety requirements strengthened since 2020.

The 2022 Surfside collapse legislation (primarily SB 4-D) introduced milestone inspections and Structural Integrity Reserve Studies (SIRS). House Bill 913 (HB 913), signed in June 2025 and effective July 1, 2025, refined these rules with extensions, flexibility, and new requirements for transparency, insurance, and funding.

Buyers must now scrutinize SIRS reports, milestone inspections, reserve funding, insurance compliance, and potential special assessments. Condo Rules & Regulations Condo communities enforce strict Rules & Regulations covering parking, pets, trash, rentals, noise, renovations, and more. Review them carefully—violations can lead to fines or disputes with fellow owners. Florida buyers receive a 7-day right of rescission (extended from 3 days under HB 913 for non-developer sales). Use this period to review governing documents, rules, financials, SIRS, milestone inspections, and insurance details. You can cancel for any reason.

Condo Rules & Regulations

Rules are a good thing. Because of the dense concentration of people in a South Florida condo community, a set of rules is needed to keep order among the residents. All condominium communities have a set of Rules & Regulations everyone must abide by. They cover everything from parking, pet restrictions, trash/recycling to rental restrictions.

Be sure to review the rules carefully. If you can't live with them you should move on to another community. If you think you can get away with bending the rules, think again. There is usually someone in the building with enough time on their hands to make sure everyone follows the rules. They are fondly known as condo commandos.

Association Approvals

When purchasing a condo, coop or townhouse you most likely be required to get your purchase approved my the association. You need written approval before you can close on your condo. The approval is recorded in the county records with the deed. Typically you will fill out an application and pay a fee. Your credit and background will be checked. It is a process that can take up to 30 days. The association may require a minimum credit score. You may want to check your credit score on your own before you pay the application fee. They are non-refundable. Once approved there is one final step before you receive the approval and that is an interview with a member of the condo board. This interview is usually just a board member running down the rules with you to make sure you thoroughly understand them before you move in. They usually require that the interview be done in person. Sometimes exceptions are made, and interviews can be done by phone or Skype but check first and plan ahead.

What about Pets?

Finding a condo that will allow your pet can be a daunting task. Especially if you are on a budget. Most of the less expensive condos were built in the 1960s and 1970s. In most cases those older buildings had restrictive pet policies. Changing condo rules takes an amendment to the condominium documents which is no simple undertaking. When you do find a condo that allows pets they will usually be restricted to smaller pets, usually under 20 pounds. Some of the newer buildings allow pets without a size restriction. Those newer building come at a higher price too. If you have a service pet or emotional support animal a condo or homeowners association must allow your pet as long as you have the proper documentation. Here is a list of all the pet friendly condos in Pompano Beach and Lauderdale by the Sea.

Association Finances: Post-2022 & 2025 Updates

Structural Integrity Reserve Studies (SIRS): Required every 10 years for qualifying buildings. The initial deadline was extended by HB 913 to December 31, 2025 (from 2024). The study must recommend a baseline funding plan to keep reserves above zero and account for various funding methods (assessments, loans, lines of credit). Officers/directors must sign an affidavit acknowledging receipt.

Reserve Funding:

No waivers or reductions for SIRS items (effective since late 2024). HB 913 allows associations that completed a recent milestone inspection to pause or reduce reserve contributions for up to two consecutive budget years (with majority vote) to prioritize repairs. The threshold for mandatory reserve items rose from $10,000 to $25,000 (with inflation adjustments). Funding can include special assessments, loans, or lines of credit (majority vote required).

Special Assessments:

Common and often substantial for repairs, roofs, concrete restoration, and compliance. Review recent history, pending projects, and the SIRS funding plan.

Prioritize buildings with completed, positive inspections and strong reserves. Insurance and Ownership Costs Florida’s insurance crisis continues. Associations must maintain adequate property insurance based on replacement cost, determined by an independent appraisal updated at least every three years (per HB 913). This often drives higher monthly fees.

Individual owners purchase HO-6 policies for interiors. Non-compliant buildings (poor SIRS or claims history) face higher premiums or coverage challenges. Budget for ongoing increases.

Financing a South Florida Condo FHA loans require the association to meet standards on reserves, tenant occupancy (typically ≤50%), and now SIRS/milestone compliance. Lenders scrutinize these reports closely. Some associations demand higher down payments or restrict financing. Verify financial health early.

Condo values in some areas reflect higher ongoing costs. Condo Fees and Special Assessments Dues cover maintenance, amenities, insurance, utilities (verify inclusions), and reserves. Expect elevated fees due to insurance, mandated reserves, and repairs. Special assessments for major projects are more frequent and larger than pre-2020. Ask for the latest budget, SIRS, and assessment history.

Co-ops vs. Condos Co-ops

If you are shopping for South Florida condos you will most likely come across listings for Coops and they will probably look like great deals too. It is important to know the difference between a condo and a coop. With a condo you have actual ownership of the unit from the wall inward and a fractional piece of the common areas like hallways, lobby and amenities. With a coop you are buying a share of a corporation with an exclusive, or proprietary lease of the unit.

Most coops don't own the land under the building. They usually have a land lease. You either pay an additional fee for the land lease or it is part of the monthly dues. Typically the land lease has a term of 99 years. You need to find out how the lease will be handled at the end. It could automatically renew or there could be a buy out option. Each one is handled differently. Coops were popular in the Sixties. That is when most of them were built in South Florida. So they are about half way through there land leases by now.

Coops are much harder to finance than condos. There a only a few lenders that will finance a coop. Even if you find a lender they will need a 30 to 40% down payment and the interest rate will be higher than for a condo. For that reason a coop will usually be cheaper than a comparable condo.

Final Advice for 2026 Buyers

Partner with a local agent experienced in South Florida condos. Hire professionals (engineer, attorney, insurance specialist) to review SIRS, milestone reports, financials, and insurance during the rescission period. Focus on transparent, compliant buildings with funded reserves. While reforms increased short-term costs, they enhance long-term safety and stability.

Regulations and market conditions evolve—always verify the latest association documents. Consult a real estate attorney for your transaction. This guide incorporates changes through mid-2026, including HB 913. For personalized advice, contact qualified South Florida professionals.

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Tom Day