Sweeping disclosure rules for Miami-Dade condos, homeowner associations become law

Miami-Dade County commissioners on Tuesday passed sweeping disclosure rules for all condominium and homeowner associations, requiring public filings of financial statements and structural reports.

The legislation by Commissioner René Garcia requires the submissions by February 2023, with the documents then uploaded onto a county database available to the public. While many of the documents must be disclosed to unit owners and would-be condo buyers after a sales contract is signed, the records otherwise are not available to the public.

Passed unanimously, the law is part of a package of legislation proposed after the June 24 partial collapse of the Champlain Towers South condo tower in Surfside. The catastrophe, which killed 98 people, sparked calls for more scrutiny and transparency on how condo buildings are maintained and managed.

Mayor Daniella Levine Cava endorsed the legislation, saying the Surfside collapse brought the issue of condo transparency “into stark visibility.”

“I think this is a step that the rest of the state will look to,” she said. “I think this is a very innovative, creative way to address this issue.”

This story was originally published March 1, 2022 at 7:48 PM.