Florida Community Association Manager Practice Exam

What is the warranty period for units under the Condo and Coop Acts?

1. 1 year

2. 2 years

3. 3 years

4. 5 years

The correct answer is: 3 years

The warranty period for units under the Condo and Coop Acts is three years. This timeframe is significant because it establishes a legal guarantee that a condominium or cooperative building must be constructed to certain standards and is free from significant defects in workmanship and materials. The three-year period is intended to provide homeowners with protection and assurance that the structural integrity and overall construction quality of their property are reliable for a reasonable amount of time after purchase. During this warranty period, if any defects arise in the common elements or shared facilities of the condominium or cooperative, the association is obligated to address these issues, ensuring that members of the community can enjoy a habitable and well-maintained living environment. This warranty can be critical for new homeowners, as it reassures them of the long-term commitments that builders must adhere to, thus influencing their investment decisions.