Since the 1980s, Florida has experienced a condominium-conversion “craze,” during which developers converted huge numbers of apartment complexes to the condominium form of ownership. The resulting oversupply of condominiums is a major component in the Florida real estate market bubble and consequent economic downturn. Condominium conversions are linked to many social ills, including depleting affordable housing, increasing foreclosure rates, building degradation, increased vacancies and resulting crime, and urban blight. This Article addresses condominium conversions’ consequences and suggests that it is necessary to change Florida’s regulatory scheme to resolve many of the issues that have proliferated under the current law. This Article provides a detailed analysis of Florida legislation regulating condominium conversions, including the Roth Report and the Roth Act, and offers an in-depth comparison of several states’ condominium-conversion regulations. This Article suggests that the power to regulate condominium conversions should rest with municipalities. It further argues that amending Florida law to recognize a condominium conversion as a change in property use and a subdivision of property-not just a change in ownership-would allow local governments, those closest to the communities in question, to have greater control over conversions. Finally, the Article concludes that such changes in Florida’s regulations would resolve many of the unwanted side effects of irresponsible condominium conversion.