Florida’s condominium market continues to grapple with escalating costs and stringent regulations in 2025, leaving many homeowners facing difficult decisions. The aftermath of the 2021 Surfside collapse prompted legislative changes aimed at enhancing building safety. However, these well-intentioned laws have inadvertently imposed significant financial burdens on condo owners, particularly retirees and those on fixed incomes.

One poignant example is the situation at Mariners Bay Condos in North Miami. Residents were confronted with over $100,000 each in dues and assessments to comply with new safety requirements. “I would get calls from some unit owners who were just in tears,” shared association president Laura Galeano. The board recognized the financial strain as early as 2022, especially after insurance premiums skyrocketed by 800%. Faced with insurmountable costs, the association opted to sell the property to a developer, a decision that, while necessary, was emotionally taxing for the community.

In Fort Lauderdale, the residents of Springbrook Gardens faced a similar predicament. The 18-unit building, constructed in the 1940s, was deemed unsafe due to foundation decay. The estimated repair cost of $4.5 million translated to hundreds of thousands per unit owner. “We didn’t have $4.5 million to take care of it,” said condo owner Warren Sackler. Consequently, the residents voted to sell the building, a decision that underscores the financial challenges imposed by the new regulations.

Individual homeowners are also feeling the pinch. Nayara Silva, a 33-year-old condo owner in Pompano Beach, experienced firsthand the difficulties in selling her unit. Despite receiving a full-price offer, the sale fell through when the lender discovered that 20% of unit owners were delinquent on special assessment payments, rendering the building ineligible for financing. Silva, who had invested $50,000 in upgrades, now faces the prospect of renting out the unit, barely breaking even due to high fees.

Retirees are particularly vulnerable. Tony Ferrari, a 63-year-old on disability, purchased a condo in Boynton Beach eight years ago. His monthly maintenance fees have risen from $230 to $580, consuming a significant portion of his $1,500 monthly income. With an anticipated $10,000 to $15,000 assessment for roof replacement looming, Ferrari is considering selling his condo and relocating to a mobile home park to maintain financial stability.

The broader market reflects these individual struggles. In Clearwater’s Kalmia Condominiums, a 55-plus community, residents face a 21% increase in insurance premiums and a $500,000 special assessment for roof replacement. Even buildings without structural issues are not immune to the financial pressures, leading many seniors to contemplate selling their homes, often at a loss.

As Florida continues to prioritize building safety, the unintended consequences of these regulations highlight the need for a balanced approach that safeguards residents without imposing untenable financial burdens. The personal stories emerging from this crisis serve as a stark reminder of the human impact behind policy decisions.