'It's sad': Florida's condo fee crisis could trigger the 'next wave of homeless people' in the state, says one representative — with seniors on fixed incomes at highest risk

Rep. Mike Caruso rang the alarm after the issue was dropped from a special session in January.

"It's sad, and we're not going to address it here in the Florida House," Caruso told the Miami Herald. "I'm shocked by it."

Here's what has Caruso concerned about elderly condo owners.

New building safety law

Following the 2021 collapse of the Champlain Towers South, a 12-story condominium in the Miami suburb of Surfside, in which 98 people died, legislators rushed to pass safety reforms. A new bill was signed into law that includes the above requirements.

But there was a problem. Many condo associations were short on reserves. So, the costs to fill them, pay for required inspections and fund any potential repairs, in a number of cases, was passed on to unit owners.

Caruso said that many condo owners, especially those who are elderly and on a fixed income, are at risk of losing their homes due to the legislation because they can "no longer afford the tripled reserves or the quadrupled dues."

Many residents of these condos have lived there for a long time, he says, and they need help now.

Some lawmakers argue, however, the situation is too complicated to be effectively solved over the course of a brief special session and more time is needed. Florida legislative sessions resumed in March.

Another source of financial stress

New condo fees can be a big problem by themselves, but the situation is made worse by other high living costs.