Structural Integrity Reserve Study & Reserve Funding Requirments

Dated: March 8 2023

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Wondering What The New Condo Laws Mean For You?


In addition to the MSI, Milestone Structural Inspection, the new Florida Condo Law also states condominium associations must perform a Structural Integrity Reserve Study (SIRS). This study must consist of a visual inspection of various parts of the condo property by a licensed architect or engineer. This includes the condo's roof, load-bearing walls, foundation, floors, plumbing, fire protection systems and fireproofing, as well as any item with a deferred maintenance or replacement cost that exceeds $10,000. The Structural Integrity Reserve Study is required to be conducted every 10 years after the condo's creation for each building that is 3 stories or higher. If the licensed engineer or architects identifies any recommended repairs on the SIRS report the association's board will have 1 year to begin the recommended repairs. If this study is not done and the directors or officers willfully and knowingly fail to perform the SIRS by the required dates it will be considered a breach in the eyes of the law.

To recap a Structural Integrity Reserve Study please see the following:

  • The initial SIRS must be completed by December 31, 2024. Keep in mind this is for each building that is 3 stories or higher. Once the initial study is performed a new one must be done every 10 years thereafter.
  • Starting December 31, 2024, a condo association may no longer refuse to fund, meaning they may not waive, or underfund the reserves for items required to be included in a SIRS. Members do not have the option to opt-out of the mandatory funding of reserves for any components included in the Structural Integrity Reserve Study.
  • For items included in the SIRS, a condo association may no longer use those itemized reserve funds ( or any interest accruing thereon) for other purposes, and a condo association may only use those itemized reserve funds for their designated purposes starting December 31, 2024

Stay tuned for more blog posts briefly explaining the new condo laws. Please reach out to us at NextHome Gulf Coast if you have further questions or would like more information about how this new Florida Senate Bill SB 4-D impacts you.

#floridacondolaws #condolawsinfl #condos #tampabaycondos #NextHomeGulfCoast

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