Florida condo budgets must reserve for roof replacement, painting, pavement and any item over $25,000 (the inflation-adjusted $25,675 in 2026), and for SIRS items as the latest study recommends. For budgets adopted on or after 31 December 2024, owner-controlled associations that need a SIRS cannot waive or underfund SIRS reserves; they may fund them with assessments, loans or lines of credit, the latter three by a majority of the total voting interests (s. 718.112(2)(f)).
General information, not legal or engineering advice.
What must a Florida condo reserve for?
- Roof replacement, building painting and pavement resurfacing, whatever the cost
- Any other item with a deferred maintenance or replacement cost over $25,000, or the inflation-adjusted amount if greater; the Division set $25,675 for 2026 [2]
- For associations that need a SIRS: the SIRS items, in the amounts the most recent study recommends [1]
What owners can and cannot vote on
| Decision | Vote needed | Limits |
|---|---|---|
| Waive or reduce non-SIRS reserves | Majority of total voting interests | Owner-controlled associations |
| Waive or reduce SIRS reserves | Not allowed | Budgets adopted on or after 31 Dec 2024; multicondominium exception with Division approval |
| Special assessment, loan or line of credit for SIRS items | Majority of total voting interests | Loan or credit line must cover previously waived or unfunded amounts |
| Pause reserves to fund 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 |
| Use reserves for another purpose | Majority of all total voting interests, in advance | Otherwise only authorized reserve expenditures |
Loans and lines of credit
A unit-owner-controlled association that must have a SIRS may use a line of credit or loan for milestone or SIRS capital expenses. It must cover any previously waived or unfunded reserve amounts, be immediately available to the board without a further owner vote, and be disclosed in the annual financial statement and to prospective purchasers [1].
Pooling
SIRS components may be pooled only with other SIRS components [1].
When the Division says funding starts
The Division's guidance is that associations that waived or reduced SIRS reserves in a budget adopted on or before 31 December 2024 must begin funding in line with the study from 1 January 2026 [3].
Telling owners
Associations with 25 or more units must post specified documents on a website or app [4], and the SIRS itself goes to owners within 45 days.
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Frequently asked questions
Can owners still waive non-SIRS reserves?
Yes. Owners of a unit-owner-controlled association may vote by a majority of the total voting interests to provide no reserves or less reserves than required, except for SIRS items in budgets adopted on or after 31 December 2024.
Can reserves be used for something else?
Only for authorized reserve expenditures, unless a majority of all the total voting interests approves another use in advance.
What if a hurricane makes the building uninhabitable?
If the local building official decides the whole building is uninhabitable due to a natural emergency, the board may pause or reduce reserve funding and spend reserves to make it habitable, then resume once it is.
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.
- Reserve threshold, Florida DBPR. Accessed October 28, 2026.
- Inspections: DBPR Condominium Information and Resources, Florida DBPR, Division of Florida Condominiums, Timeshares, and Mobile Homes. Accessed October 28, 2026.
- s. 718.111, Florida Statutes (2026): The association (official records, website), The Florida Senate. Accessed October 27, 2026.
