Florida Condo Special Assessments: What Owners Can Do

The short version

After the 2021 collapse of Champlain Towers South in Surfside, Florida changed its condo laws. Older condo buildings now need structural inspections, and associations must save money for major repairs instead of voting to skip it. Years of postponed repairs are now coming due, and many owners are getting large special assessments: one-time charges, on top of regular association fees, to pay for repairs or rebuild savings.

If you own a Florida condo, three things matter most:

1. Know what’s coming. Ask your association for its latest inspection report and reserve study. They show what repairs are planned and what they’ll cost.
2. Know your options for paying. You may be able to pay over time, borrow against your equity, or use other financing. Each has a cost.
3. Know how an assessment affects your home’s value. A large assessment can make it harder to sell or refinance, and in some cases it can leave you owing more than your condo is worth.

What the law requires

Two requirements drive most of the costs.

Milestone inspections. Condo buildings three or more habitable stories tall must have a structural inspection by a licensed engineer or architect by the end of the year the building turns 30 (25 in areas where the local building agency requires it, such as near salt water), and every 10 years after that. If a detailed (phase two) inspection finds substantial structural deterioration, repairs must begin within 365 days of the report.

Structural integrity reserve studies. The same buildings must have a study, at least every 10 years, of major structural components (including the roof, load-bearing walls and other primary structure, fireproofing and fire protection systems, plumbing, electrical systems, waterproofing, and windows and exterior doors). The study recommends how much the association should save each year to repair or replace them. The association must then keep reserves for those items based on the study.

Before these laws, owners could vote to skip or reduce these savings. For buildings that need a reserve study, owners can no longer vote to provide less than the required reserves for these items, with narrow exceptions. Associations that fell behind have to catch up, through higher monthly fees, special assessments, or borrowing.

The law has been revised several times since 2022. A 2025 law (House Bill 913) allows these required reserves to be funded through regular assessments, special assessments, lines of credit, or loans. Using a special assessment, line of credit, or loan for them requires approval by a majority of all the association’s voting interests.

Your rights as an owner

Florida law gives condo owners specific protections when an association levies a special assessment:

• Advance notice of the meeting. Written notice of a board meeting where a nonemergency special assessment will be considered must be mailed, delivered, or sent electronically to owners and posted on the property at least 14 days before the meeting. The notice must say that assessments will be considered and give their estimated cost and purpose.
• A stated purpose. The association must tell you the specific purpose of a special assessment, and the money must be used for that purpose.
• Access to records. You can inspect and copy the association’s official records, including structural inspection reports and contracts. The association must also give you a copy of its structural integrity reserve study, or a notice that you can request one. If it doesn’t provide records within 10 working days of a written request, the law presumes it willfully failed to comply.
• Check the association’s website or app first. Associations with 25 or more units (other than timeshares) must post key documents online within 30 days of receiving or creating them, in a section only owners can access. These include structural inspection reports, the latest structural integrity reserve study, the annual budget and financial report, a list of contracts and of bids received, and notices and agendas for board and owner meetings. If you don’t have a login, ask the association in writing; it must give you a username and password.

Your condo’s declaration and bylaws may give you more rights, such as requiring an owner vote for assessments above a certain amount. Read them, or ask the association’s manager for copies.

Ways to pay a special assessment

1. Ask the association about a payment plan. Some associations let owners pay a large assessment in installments. If the association borrowed money to fund repairs, the cost may be spread through higher monthly fees instead of one large bill. Ask before the due date, not after.

2. Borrow against your equity. If you have enough equity, a home equity line of credit (HELOC) or home equity loan can spread the cost over time, usually at a lower rate than credit cards or personal loans. Compare options with the HELOC vs. cash-out refinance calculator. Ask lenders early whether they’ll lend on a unit in your building.

3. Cash-out refinance. This replaces your mortgage with a larger one. If your current mortgage rate is lower than today’s rates, this usually costs more than other options because your whole balance moves to the higher rate.

4. Personal loan or savings. Personal loans typically cost more than home equity borrowing but don’t put your home at risk. Paying from savings costs nothing in interest but leaves you with less cushion for emergencies.

What an assessment means for your mortgage and your equity

It can affect your ability to sell or refinance. Fannie Mae won’t buy mortgages on units in condo projects that need critical repairs, including significant deferred maintenance, until the repairs are done. If a special assessment pays for a critical repair that hasn’t been fixed yet, the project is ineligible. When fewer buyers can get financing, it can be harder to sell or refinance until repairs are finished.

It can leave you underwater. An unpaid assessment is a debt tied to your unit. If you sell, it typically comes out of your sale proceeds or the buyer will expect a price reduction. Add your mortgage balance, any home equity loan, and the unpaid assessment together: if the total is more than your condo would sell for, you’re effectively underwater. The home equity calculator lets you enter an assessment under “Amounts due when you sell” to see where you stand.

Ignoring it is risky. In Florida, the association has a lien on your unit for unpaid assessments and can foreclose on it the way a lender forecloses a mortgage, even if your mortgage payments are current. If you can’t pay, talk to the association early.

If you can’t afford it

• Talk to the board or manager first. Ask about payment plans, hardship arrangements, or whether the work can be phased.
• Get free help. A housing counselor approved by the U.S. Department of Housing and Urban Development (HUD) can review your budget and options for free.
• Know your options if you need to leave. Selling with a pending assessment is possible; the assessment usually gets settled at closing from the proceeds. If you’d owe more than the condo sells for, see your options when you’re underwater.
• Get legal advice for big decisions. A Florida attorney who handles community association law can explain your rights under your specific declaration and Florida law.

Before you buy a Florida condo

If you’re shopping for a condo in an older building, ask for:

• the most recent milestone inspection report and structural integrity reserve study
• the current budget, including reserve contributions
• any approved or proposed special assessments
• the association’s insurance coverage and deductibles
• an estoppel certificate, which states what the seller owes the association

A low price can be a sign of large repair costs ahead. Factor any likely assessment into what you can afford, alongside the mortgage, taxes, and insurance.

Frequently asked questions

Can my Florida condo association charge a special assessment without a vote?

Check your declaration and bylaws; many give the board this power, and some require an owner vote above a certain amount. One exception is set by Florida law: using a special assessment, line of credit, or loan to fund the required structural reserves needs approval by a majority of all the association’s voting interests. Either way, the board must follow the notice rules above.

Can I refuse to pay a special assessment?

Not without consequences. Unpaid assessments can lead to late fees, interest, a lien on your unit, and eventually foreclosure by the association. If you dispute an assessment, get legal advice and keep paying while you dispute it if you can.

Will a special assessment lower my condo’s value?

It can. Buyers factor pending assessments into what they’ll pay, and Fannie Mae won’t buy mortgages in projects with unfinished critical repairs, which can narrow the pool of buyers. Once repairs are finished and reserves are funded, a building may become more attractive to buyers and lenders.

Can I use a HELOC to pay a condo special assessment?

Possibly, if you have enough equity and a lender will lend against your unit; ask lenders early whether your building qualifies. Compare the total cost with a payment plan from your association before deciding.

Sources: Florida Statutes s. 553.899 (milestone inspections), s. 718.112 (reserve studies, reserves, and meeting notice), s. 718.116 (assessment purpose, liens, and foreclosure), and s. 718.111 (official records); Fannie Mae Selling Guide B4-2.1-03. Checked October 2026.

Information here is general guidance, not legal or financial advice. Florida condo law has changed several times since 2022, and your association’s declaration and bylaws also apply. Talk to a Florida attorney who handles community association law about your specific situation.