Structural integrity reserve studies for Florida condos

Who needs a SIRS

Every residential condominium association with a building three habitable stories or higher, measured as the Florida Building Code measures it. Board members, treasurers and property managers use the study to set reserves and the annual budget.

• Owner-controlled associations that existed on or before 1 July 2022 and have not yet completed a study
• Associations that completed a milestone inspection and need the SIRS that follows it
• Associations changing how they fund reserves, for example with a loan or line of credit, which triggers an update
• Developers preparing to turn over control of a new building

What does a SIRS cover?

At a minimum the roof; the structure, including load-bearing walls and primary structural members and systems; fireproofing and fire protection systems; plumbing; electrical systems; waterproofing and exterior painting; windows and exterior doors; and any other item above the reserve threshold whose failure would harm those items. For each item the study gives the estimated remaining useful life and the replacement cost or deferred maintenance expense, and it includes at least a baseline funding plan that keeps the reserve cash balance above zero in every budget year.[1]

Who may perform or verify the study?

An engineer licensed under chapter 471, an architect licensed under chapter 481, or a person certified as a reserve specialist or professional reserve analyst by the Community Associations Institute or the Association of Professional Reserve Analysts. The rule covers the visual inspection portion too. We arrange the study with one of these professionals and coordinate the schedule; the professional signs the study.[1][2]

What are the deadlines?

• Owner-controlled associations existing on or before 1 July 2022 had to complete a SIRS by 31 December 2025.
• With a milestone inspection due on or before 31 December 2026, the SIRS may be done at the same time, but no SIRS may be completed after 31 December 2026.
• After that, at least every 10 years.
• Within 45 days of receiving the study, owners get a copy or notice and the association files a statement with the Division.

How does the SIRS change the budget?

Reserves for the SIRS items must be based on the most recent study, and for budgets adopted on or after 31 December 2024 an owner-controlled association that must have a SIRS cannot vote to waive or reduce those reserves, except a multicondominium with a Division-approved alternative funding method. SIRS items may be funded by regular assessments, special assessments, lines of credit or loans; the last three need a majority of the total voting interests.[1]

Frequently asked questions