Florida guide
Florida reserve studies
Florida's condo reserve study requirements have undergone a dramatic transformation since 2021. The collapse of Champlain Towers South in Surfside — where the association held roughly $706,000 in reserves against a documented repair need exceeding $10.3 million — exposed the consequences of chronic underfunding and prompted a wave of legislation.
Florida SIRS funding requirements are now in force. Associations behind on funding are driving catch-up assessments right now.
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Florida urgency: Florida SIRS funding requirements are now in force. Associations behind on funding are driving catch-up assessments right now. Data current as of June 13, 2026.
Today, Florida law requires not just a standard reserve study but a Structural Integrity Reserve Study for older condominium buildings, making Florida one of the most demanding reserve-regulation environments in the United States.
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What a standard Florida reserve study covers
Chapter 718 has long required condominium associations to prepare a reserve study at least every three years and to maintain capital reserve accounts for major common-area components. A standard reserve study inventories the association's depreciating assets — roofs, elevators, pool decks, paving, seawall, and similar components — estimates the remaining useful life and replacement cost of each, and projects the annual contribution needed to fund those replacements without resorting to special assessments. The study produces either a threshold-funded or fully-funded recommendation, and the board's annual budget must reflect one of those approaches. Buyers should request the study and compare the recommended annual contribution to what the association is actually collecting.
The Structural Integrity Reserve Study (SIRS): what it adds
Introduced by SB 4-D in 2022 and extended statewide by SB 154 in 2023, the Structural Integrity Reserve Study applies to condominium buildings of three or more stories. Unlike a standard reserve study, the SIRS must be performed or verified by a licensed engineer or architect and must specifically address load-bearing walls and primary structural members, the foundation, fireproofing systems, roofing systems, and the building envelope. The SIRS produces reserve funding requirements for these structural components that the board must incorporate into its budget. Associations that received a completed SIRS triggered an obligation to begin funding those reserves, and HB 913 (2025) adjusted certain deadlines — including delaying full reserve funding by two years following completion of a required inspection — while keeping the core mandate intact.
How to read the funding level in a Florida reserve study
The most important number in a reserve study is the funded percentage: the ratio of current reserve account balances to the total reserve obligation identified in the study. A building at 100 percent funded has set aside everything it is projected to need. Most associations operate at a lower level — somewhere between 30 and 70 percent funded is common — but anything below that range signals that the board has been deferring contributions, which typically means future special assessments. The example of Champlain Towers South, at approximately 6.9 percent funded according to researchers at the University of Florida, illustrates the extreme end of this spectrum. Look at the funding trend over multiple studies, not just the most recent snapshot.
Reserve waiver history and what it signals
Under prior Florida law, association members could vote to waive or reduce reserve contributions below the study's recommended level. Many associations did exactly that, creating the underfunding that the post-2021 reforms were designed to correct. Although mandatory SIRS reserve components can no longer be waived by a membership vote under the new framework, a history of past waivers is still meaningful: it tells you whether the current board inherited a structurally underfunded building and how far behind on contributions the association may already be. Request the past five years of reserve account statements and compare balances to study recommendations year by year.
Questions to ask about the SIRS before closing
When reviewing a SIRS, the most important questions are whether a phase one milestone inspection has been completed, whether a phase two inspection was required, what specific structural items were flagged for attention or repair, and what the association's board-adopted plan is for funding and addressing those items. If the SIRS is brand new, a large funding obligation may not yet be reflected in the current budget — check whether the board has adopted a new budget since receiving the study. If the SIRS is more than a few years old but no update has been commissioned, ask why. The law requires the study to be updated as needed to reflect material changes in the building's condition.
Impact on buyer financing and resale
Lenders — particularly those selling loans into the secondary market — have grown significantly more attentive to Florida condo reserve levels after 2021. Fannie Mae and Freddie Mac issued guidelines requiring lenders to obtain and review reserve information before approving loans in certain condominium projects. A building with a funded percentage below the lender's threshold may make financing difficult or impossible to obtain, which limits your buyer pool if you eventually sell. Before making an offer, confirm whether the building appears on any agency's approval or ineligible list, and factor the reserve funding level into your overall assessment of the purchase.
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Florida legal references
- Florida Chapter 718 — Condominiums (reserve requirements)
- SB 4-D (2022) — Building Safety (SIRS mandate)
- SB 154 (2023) — Condominium and Cooperative Associations
- HB 913 (2025) — Condominium and Cooperative Associations
Informational only. Not legal advice. Always confirm against current statute and counsel.
Need help applying these Florida statutes to your specific situation? We can connect you with state-licensed counsel and specialists familiar with this exact regulatory environment.
Find a Florida specialist →Reviewer's checklist
- Request the most recent reserve study and confirm it was completed within the past three years
- Request the most recent Structural Integrity Reserve Study (SIRS) if the building is three stories or taller
- Compare the current reserve account balance to the study's total reserve obligation and calculate the funded percentage
- Review reserve contribution history: has the association consistently funded at the recommended level?
- Check for any past membership votes to waive or reduce reserve contributions
- Ask whether the board has adopted a catch-up funding plan if the funded percentage is below 30 percent
- Confirm that all SIRS-required structural reserve components are included in the current budget
- Request board minutes from the period after the most recent SIRS was received to understand what action was taken
- Ask whether any phase two milestone inspection was required and, if so, what the findings were
- Verify that the building is on your lender's approved project list before proceeding
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Critical
Under 10%
Weak
10–30%
Fair
30–70%
Healthy
70%+
- Under 10%:
- Assessment likely imminent
- 10–30%:
- Elevated assessment risk
- 30–70%:
- Common, manageable middle
- 70%+:
- On track to fund replacements
Source documents
- Declaration & bylawsthe rules
- Budget & financialsthe money
- Reserve studythe big repairs
- Meeting minuteswhat the board fears
Cross-reference
The risk lives in the contradiction between documents.
An assessment in the minutes but not the estoppel; a reserve the budget never funds.
Risk report
Severity-graded across 8 categories.
Every finding cites the document, page number, and quoted text.
How CondoSignal reviews this
We read the reserve study, operating budget, and 24 months of meeting minutes together — florida reserve studies risk usually lives in the contradiction between documents, not in any single one of them. Every finding cites the source document, the page number, and the quoted text behind it.
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Related reading
Guides for Florida buyers and owners
Florida SIRS Explained: What Boards Must Fund and Disclose
The Structural Integrity Reserve Study is now mandatory for most Florida condo buildings. Understand what a SIRS must include, how it affects reserve funding requirements, and what boards must disclose to owners.
Milestone Inspection Buyer Guide: Reading the Report Before You Close
Understand what a Florida Milestone Inspection report discloses, what follow-up questions to ask the engineer, and how to evaluate the special assessment risk the findings imply.
Hurricane Deductibles and Loss Assessments: Evaluate Your HO-6 Exposure
Master-policy hurricane deductibles can pass through to you as loss assessments. Understand how percentage deductibles work, how to calculate your real exposure, and what your HO-6 needs to actually cover.
Master-Planned Community Due Diligence: Mapping Every Layer
Multi-layered master and sub-associations are common in Texas and Arizona. Learn how to map who governs what, which fees apply to your unit, and which restrictions run with the land.
The Post-Surfside Florida Condo Law Guide (2026)
From the 2021 Champlain Towers collapse through four years of legislative reform, this is the complete guide to Florida condo law as it operates in 2026 — for buyers, owners, and boards.
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Reviewed by Kirk Hasley, Founder. Every claim here is checked against current Florida statute and primary sources, using the same documented review framework we run on every file. Last reviewed June 13, 2026.
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“The board approved a $15,000-per-unit special assessment for façade repairs, payable over 12 months.”
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Review the documents before your contingency ends
Most buyers get 7–14 days to review condo documents. Upload the packet — we read the reserve study, budget, minutes, and insurance summary and flag the risks, every finding linked to the exact page. Free.
Expert Matching
Need a real estate lawyer or mortgage specialist?
We can connect you with vetted real estate lawyers, mortgage brokers, and insurance brokers familiar with the specifics of condo and HOA transactions.
- Reserve fund engineer
- Property manager
- Building envelope consultant
- Restoration contractor