FL S2458

Authorizes condominium associations to demand that tenants pay future rents directly to the association instead of the unit owner if the owner is delinquent on assessments by 30 or more days, with tenants receiving credits against rent for payments made.

Requires residential condominium unit owner property insurance policies to include at least $2,000 in loss assessment coverage with a maximum $250 deductible, effective July 1, 2010.

Allows associations to deny occupancy, common area use, recreational facilities, or voting rights to unit owners in foreclosure with 90+ days of unpaid assessments, subject to additional restrictions on tenant denials.

Establishes that adequate property insurance must be based on replacement cost determined by independent appraisal at least once every 36 months, with associations using best efforts to maintain coverage and breaching fiduciary duty if failing to do so.

Permits condominium boards to negotiate settlements with first mortgagees for less than the full amount of limited assessments if the mortgagee acquires title through foreclosure.