Florida’s New Condo Laws: What HB 913 and HB 393 Mean for Tampa Bay Real Estate
Published: June 24, 2025
Big changes are coming to Florida’s condominium landscape. With Governor Ron DeSantis signing HB 913 and HB 393 into law—effective July 1, 2025—condo associations and property owners in Tampa Bay are bracing for a new era of governance, financial planning, and real estate investment. These bills aim to offer financial flexibility, enhance building safety, and address the affordability crisis triggered by prior legislation enacted in the wake of the Surfside condominium collapse.
In this post, we break down what’s in the new laws, how they affect condo associations and unit owners, and what real estate investors, buyers, and sellers need to know in Tampa Bay.
Table of Contents
Background: Why These Laws Were Passed
What’s in HB 913? Key Provisions
What’s in HB 393? The My Safe Florida Condominium Program
Impact on Condo Owners in Tampa Bay
Impact on Real Estate Investors & Developers
What This Means for Buyers & Sellers
Long-Term Outlook for Tampa Bay Condos
Final Thoughts & Expert Takeaways
1. Background: Why These Laws Were Passed
After the tragic 2021 collapse of the Champlain Towers South in Surfside, Florida lawmakers passed sweeping condo safety legislation requiring:
Structural inspections for buildings 3+ stories
Mandatory reserve studies
Full funding of reserves beginning by 2025
While well-intentioned, these reforms blindsided many condo associations—especially in older, middle-income buildings—who faced sudden repair mandates and ballooning reserve requirements. The result?
Skyrocketing HOA fees
Insurance chaos
Unit owners unable to sell due to unaffordable assessments
A spike in condo “deconversion” deals (i.e., developers buying out distressed units to redevelop high-rises)
The outcry led to new legislation in 2025 aimed at providing financial breathing room without abandoning safety concerns.
2. What’s in HB 913? Key Provisions
Signed into law by Governor DeSantis, HB 913 offers associations more flexibility in managing reserves and planning repairs.
HB 913 Highlights:
Lines of Credit Allowed for Reserves: Associations can now borrow funds via lines of credit to satisfy reserve funding requirements.
Limited Investment of HOA Fees: Associations may now invest HOA funds in low-risk instruments to help offset future repair costs.
Pause Reserve Contributions for Repairs: If a building is actively making structural repairs, it can pause reserve funding for up to two years.
No Membership Vote Required: These decisions—borrowing or investing—can now be made without requiring a vote from association members.
Effective Date: July 1, 2025
This law attempts to balance financial feasibility with continued long-term safety.
3. What’s in HB 393? The My Safe Florida Condominium Program
HB 393, which went into effect immediately, revives and extends the My Safe Florida Condominium Pilot Program, offering grants up to $175,000 per association to fortify buildings and meet compliance requirements under the new safety mandates.
Key Points:
Up to $175,000 available per association
$30 million in previously unspent funds now reallocated
Designed to help associations pay for wind mitigation, roof upgrades, and structural retrofits
For aging condos across the Tampa Bay area—especially in coastal zones—this funding could be critical.
4. Impact on Condo Owners in Tampa Bay
Condo owners across the region have felt financial pressure for years. HB 913 and HB 393 offer some short-term relief, but not a full solution.
Pros for Owners:
Associations may pause reserve contributions while making repairs
HOAs can invest funds for better financial performance
Grants help pay for hurricane protection and structural upgrades
Ongoing Challenges:
Many associations still face major capital improvements
Insurance costs continue to skyrocket
Transparency and poor association governance remain major issues
In areas like Clearwater Beach, Treasure Island, and older St. Pete neighborhoods, these issues are hitting hardest.
5. Impact on Real Estate Investors & Developers
For real estate investors and condo deconversion specialists, this legislation is a double-edged sword.
What Changes:
Fewer fire-sale buildings—associations may now have financial tools to avoid immediate dissolution
More competition for older stock—especially where grants are approved
Regulatory complexity increases—developers may need to wait longer or offer more favorable buyout terms
Still, opportunities persist in underfunded buildings that have deferred maintenance, lack insurance, or are poorly managed.
6. What This Means for Buyers & Sellers
For Buyers:
Ask for copies of recent reserve studies, structural reports, and inspection results
Check whether the building has paused reserve contributions—if so, ask why
Confirm if the association has applied for or received My Safe Florida funds
Watch out for special assessments lurking in the near future
For Sellers:
If your building has passed inspections and updated reserves, highlight this in your listing
Be upfront about any planned assessments or deferred maintenance
Ensure your listing agent understands how to explain the new legislation to buyers
Overall, this legislation helps restore confidence in some properties, but buyers will be more careful—and skeptical—than ever before.
7. Long-Term Outlook for Tampa Bay Condos
We’re seeing a growing divide in the local condo market between:
Strong Associations:
Healthy reserves
Up-to-date safety compliance
Transparent financials
Market stability or appreciation
At-Risk Buildings:
Paused reserves masking deeper financial problems
Delayed maintenance
Rising insurance deductibles
Vulnerable to buyouts or condemnation
In areas like Snell Isle, Feather Sound, and Island Estates, we may see values recover quickly in well-managed buildings. In parts of Gulfport, Largo, and older inland communities, condo owners may still be in crisis mode through 2026.
8. Final Thoughts & Expert Takeaways
The passage of HB 913 and HB 393 represents an important—but incomplete—step toward addressing Florida’s condo affordability and safety issues. The Tampa Bay market will feel the effects immediately, especially in older or less-funded buildings.
Key Takeaways:
These laws provide tools, not guarantees
Buyer confidence may improve in compliant buildings
Redevelopment pressure will persist where buildings remain non-compliant
Association transparency and insurance reform remain urgent priorities
For now, condo owners, associations, and real estate professionals must work together to adapt—and prepare for further changes in 2026 and beyond.
Need Help Navigating the New Condo Landscape?
Whether you're buying, selling, or investing in a Tampa Bay condominium, it’s crucial to understand how these laws affect value, compliance, and risk. I help clients like you make smart real estate decisions every day.
Contact me today:
Sean Tennant, Realtor
Charles Rutenberg Realty
📞 727-251-4106
📧 Sean@TampaBayRealtorSean.com
🌐 www.TampaBayRealtorSean.com
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