As condominium owners across the state voice their concerns over seeing rising monthly fees, new proposals in Tallahassee are aiming to help. “Our COA has actually doubled over the last five years,” Anne Marie Riedel, a board president for a small condo association in south St. Petersburg, said. “Unfortunately, we have three units that will be going on the market because they feel that that the increase is just too much,” Riedel added. Riedel says rising property insurance rates and a lack of options for insurers are causing the rise. But insurance is not the only driving factor — a new state law and safety regulations put in place following the 2021 Surfside Condo collapse are also playing a role. The law requires condo associations to have fully funded reserves in place to make any necessary repairs. MORE: https://www.wtsp.com/article/news/local/pinellascounty/rising-condo-costs-tampa/67-8982ddc0-fb4f-4c1b-b915-b5da3d2170ca ►Subscribe: https://on.wtsp.com/youtube ►Website: https://www.wtsp.com/ ►Facebook: https://facebook.com/10TampaBay ►Twitter: https://twitter.com/10TampaBay