Manatt Real Estate Leader Michael Polentz and Senior Advisor Daniel Abram authored an article for Law360 discussing five policy changes that will likely arise as a result of the Surfside tragedy in June 2020 to help ensure such a catastrophe never happens again. In particular, the authors highlight that:
- Building regulations will be strengthened and more strictly enforced
- More laws will be passed to ensure condominium associations maintain sufficient reserve funds
- More laws will be passed to ensure that reserve studies are conducted at regular intervals by licensed professionals
- Certain states may require condominium associations to publicize reserve studies
- Condominium associations will face significant climate change-related infrastructure challenges
Law360 subscribers can read the full article here.