House Bill 913 – Let’s take a look at a few of the pros and cons:
✅ Pros of HB 913
- Enhanced Safety Compliance
The bill mandates stricter enforcement of safety inspections, including milestone inspections and Structural Integrity Reserve Studies (SIRS). - Financial Flexibility for Associations
Associations have the option to pause reserve funding for two years post-inspection and also have the option to utilize loans or lines of credit to meet reserve requirements upon approval from a majority of the membership. The goal is to provide some financial relief to cash-strapped condominium communities. - Improved Transparency and Governance
Professionals bidding on inspections or SIRS must disclose their intent to bid on subsequent repair work, if applicable. This section is intended to enhance transparency. - Streamlined Condo Termination Process
HB 913 aims to simplify the process for dissolving / terminating condominium associations.
❌ Cons of HB 913
- Increased Financial Burden on Owners
Noncompliance could lead to higher insurance premiums or special assessments, increasing the financial burden on owners (those lines of credit / loans will need to paid back at some point…). - Risk of Redevelopment / Loss of Homes
Simplifying the condominium termination process could lead to pressure for redevelopment, which may cause more owners to lose their units to termination against their will. - Administrative Challenges for Associations
Understanding and implementing these changes presents its own concern.
Disclaimer:
This article was created by Rabin Parker Gurley, P.A. for informational purposes only; not to provide legal advice. While we hope this article is beneficial to you, we do not guarantee its completeness or applicability to any particular legal situation. Further, our providing access to this information and/or to any materials is not intended to, nor shall it be deemed to, create, and receipt of it does not constitute, a lawyer-client relationship. Those who read this information should not act upon it without seeking legal advice.
© 2025 Rabin Parker Gurley, P.A. All rights reserved. Recipients may reproduce materials available on our website for their own personal use and for non-commercial distribution. Copies must include the above copyright notice.
