Q: In a previous column, you mentioned the new statute that deals with building inspections and reserves. I understand the reason for these changes, but do not understand how they are enforced or how extensive they are. Can you comment further on that? (S.S., via e-mail)
A: This may be the most impactful change to the condominium statute since it was first enacted in 1963. In sum, there are three main new requirements in the new law.
First, all buildings of three stories or more must have a “milestone inspection” performed, and a “milestone inspection report” and separate “summary” prepared. The due date depends on the age of the building and its proximity to the coastline, although all pre-1992 buildings of three stories or more must complete these requirements before the end of 2024. The milestone inspection and report must be performed and prepared by a licensed architect or engineer.
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