Florida’s New Era of Condo Accountability and Financial Transparency
For years, HOA and Condo boards operated with significant autonomy. That era ended with the passing of HB 1021. While the bill was signed in 2024, several of its most critical "trigger dates" land squarely in 2026.
At HOA Financial Haven, we believe transparency is the best defense. Here is your roadmap to staying compliant with the new law.
1. The Digital Deadline: January 1, 2026
Perhaps the biggest change for smaller communities: the website requirement has been slashed from 150 units down to 25 units.
The Mandate: If your condominium association has 25 or more units, you must host a secure, password-protected portal for your owners.
What Must Be Posted: All governing documents, the annual budget, financial reports, all active contracts/bids, and the most recent Structural Integrity Reserve Study (SIRS).
The "Checklist" Rule: When an owner requests records, you must now provide a checklist of what was provided and what was not. This checklist is itself an official record that must be kept for 7 years.
2. Criminal Penalties Are Now Real
In the past, failing to provide records was a civil matter. Under HB 1021, it can be criminal.
Second-Degree Misdemeanor: For board members or managers who "knowingly, willfully, and repeatedly" (2+ times in 12 months) deny access to official records.
First-Degree Misdemeanor: For knowingly and intentionally defacing or destroying accounting records.
Third-Degree Felony: For refusing to produce records with the intent to hide evidence of a crime.
3. Reserve Studies
HB 1021 clarifies the enforcement of the Structural Integrity Reserve Study (SIRS).
Mandatory Funding: For "SIRS items" (roofs, load-bearing walls, plumbing, etc.), boards can no longer vote to waive or reduce reserve funding.
The 45-Day Clock: Once your SIRS is completed, you have exactly 45 days to notify every unit owner that the study is available for inspection.
4. Mandatory Education & Ethics
Starting in 2026, you cannot simply "self-certify" that you've read the bylaws.
Continuing Ed: Board members must now complete 4 hours (HOA) or 8 hours (Condo) of state-approved continuing education annually.
Conflict of Interest: Any contract for services over $2,500 involving a board member or their relative must be disclosed, put to a vote, and multiple competing bids must be solicited.
5. Quarterly Financial Check-ins
Most associations must now meet at least four times a year.
The Agenda Requirement: At least four times a year, the meeting agenda must explicitly allow owners to ask questions regarding construction projects, expenditures, and revenues. You can no longer "table" financial discussions indefinitely.
Need help setting up a compliant digital portal or reviewing your 2026 Reserve Funding? Contact HOA Financial Haven.