Understand how the new Florida Structural Integrity Reserve Studies (SIRS) impact condo owners. Learn how to identify underfunded reserves and avoid massive special assessments.
Following the devastating tragedy in Surfside in 2021, Florida enacted sweeping legislative changes regarding condominium maintenance and safety. The legislative evolution has moved quickly: SB 4-D in 2022 established mandatory SIRS and milestone inspections. SB 154 in 2023 refined definitions and clarified coastal distance rules. HB 1021 in 2024 added criminal penalties for bad-faith board members and enhanced transparency. HB 913 in 2025 was the major relief bill, extending the SIRS deadline to December 31, 2025, clarifying key definitions, and providing new flexibility for funding.
As of 2026, buyers and current owners need to be fully educated on how reserve studies work, what they mean for monthly costs, and what upcoming obligations may exist. For budgets adopted on or after January 1, 2025, SIRS reserves cannot be waived or reduced by unit owner vote for buildings of three or more habitable stories. Beginning in 2026, all annual budgets must include full SIRS reserve funding based on a baseline funding plan.
A special assessment is a fee charged against a condo owner that is not part of their regular monthly, quarterly, or annual condo dues. These assessments fund necessary repairs or structural improvements that were not covered by the association's existing reserve funds.
The scope of these assessments can be staggering. An estimated 40 percent of Florida condo owners have faced special assessments in the last three years, with amounts ranging from $7,200 to over $400,000 per unit depending on building condition. Many owners have seen their monthly housing costs double in under 24 months. Some buildings have opted for developer buyouts or condo termination rather than funding massive repairs. Miami-Dade County has responded by creating a special assessment loan program offering up to $50,000 with 40-year repayment for qualifying owners.
The SIRS itself must cover eight mandatory components: roof, structure including load-bearing walls, fireproofing and fire protection systems, plumbing, electrical systems, waterproofing and exterior painting, windows, and exterior doors — plus any other item with deferred maintenance or replacement cost exceeding $25,000, adjusted annually for inflation. The cost of a SIRS ranges from approximately $5,000 to $8,000 for small condos under 50 units to $10,000 to $15,000 or more for large high-rises.
It is important to note that the Structural Integrity Reserve Study is not required for every single building. Condos that are fewer than three habitable stories do not require a SIRS — and HB 913 clarified that parking garages, mechanical floors, and crawlspaces do not count as habitable stories.
HB 913 also introduced important flexibility. Associations can pause reserve contributions for up to two consecutive annual budgets if they are performing repairs identified by a milestone inspection. After the pause, the SIRS must be updated before contributions resume. Associations may also use loans, lines of credit, or special assessments as reserve funding methods with majority owner approval. Non-SIRS component reserves such as pools and landscaping can still be waived by majority vote.
Whether a current owner or prospective buyer, reviewing the SIRS report, budget, and financial statements before making any commitments is essential. If an assessment is comfortable and expected, moving forward is reasonable — but no one should be caught off guard by a surprise obligation after closing.
Contact our office at nicole@nicole-jordan.com to schedule your consultation and discuss this in more detail.
