The votes, the loan rules and what repairs cost, from Florida law and state data.
The short answer
Florida condo associations can fund SIRS items with regular assessments, special assessments, lines of credit or loans; the last three need a majority of the total voting interests. For budgets adopted on or before 31 December 2028, owners may also pause reserves for up to two budgets to pay for milestone repairs. Phase 2 repair permits averaged $337,229 in 2024 and $496,236 in 2025.
[1][2]Last updated 28 October 2026. General information, not legal or engineering advice.
What will we need to fund?
| Year | Permits | Average value | Over $1 million |
|---|---|---|---|
| 2024 | 671 | $337,229 | 56 |
| 2025 | 232 | $496,236 | 30 |
Source, OPPAGA Report 26-04. Values ranged from under $1,000 to $30 million. [2]
Which funding tools does the law allow?
| Tool | Vote | Conditions |
|---|---|---|
| Regular assessments | Board adopts the budget | Reserves for SIRS items follow the latest SIRS |
| Special assessment for SIRS items | Majority of total voting interests | Must be reflected in an updated SIRS if it postdates the study |
| Loan or line of credit | Majority of total voting interests | Must cover previously waived or unfunded reserves; immediately available to the board; disclosed to owners and buyers |
| Reserve pause for milestone repairs | Majority of total voting interests | Budgets adopted on or before 31 Dec 2028; milestone in previous 2 years; up to two budgets; SIRS before resuming |
Who cannot use these tools?
The loan, line of credit and reserve pause provisions do not apply to developer-controlled associations, associations where owners have been in control for less than a year, or associations controlled by bulk assignees or bulk buyers. [1]
How we help
We coordinate with the engineer and your manager so the board sees the repair scope, the phasing and the cost early, and can compare an assessment, a loan or a pause before the vote.
Frequently asked questions
What vote does a special assessment for SIRS items need?
A majority of the total voting interests of the association, the same as a line of credit or loan for SIRS items.
Must buyers be told about a loan?
Yes. A special assessment, line of credit or loan used to fund SIRS items, and its details, must be in the annual financial statement given to owners and provided to prospective purchasers.
Is there help for owners who cannot pay?
Miami-Dade County has run a Condominium Special Assessment Loan Program for eligible owners. Its page does not say which year's application window it describes, so check with the county whether it is open.
Need the repair scope priced before the vote?
Tell us about the report and the building. We will come back fast with next steps.
Sources
- s. 718.112, Florida Statutes (2026): Bylaws, including (2)(f) budget and reserves, (2)(g) SIRS, (2)(h) milestone inspections, The Florida Senate. Accessed October 28, 2026.
- Milestone Inspection Reporting Data 2024 and 2025, Report 26-04, July 2026, Florida Legislature, OPPAGA. Accessed October 27, 2026.
- Condominium Special Assessment Program Relaunched, Miami-Dade County Housing and Community Development. Accessed October 28, 2026.
- s. 718.503, Florida Statutes (2026): Developer and nondeveloper disclosure prior to sale, The Florida Senate. Accessed October 27, 2026.
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