How often should a HOA do a reserve study in Florida?

In Florida, condominium and homeowners associations (HOAs) are expected to manage long-term maintenance and capital repairs through a reserve funding plan. While the law requires condo associations to budget for reserves annually, it does not mandate a full reserve study every year. Still, most experts recommend a formal reserve study every three to five years, with annual financial updates to reflect changes in component conditions or costs. For HOAs, reserve studies are not explicitly required by Florida statutes, but proper disclosure and member votes are necessary if reserves are to be waived.

Recent legislation has added more structure for condominiums, especially those three stories or taller. Senate Bill 4-D, passed in 2022, requires these buildings to undergo a Structural Integrity Reserve Study (SIRS) by December 31, 2024, if they are 30 years old—or 25 years old if located within three miles of the coast. These studies must be updated every ten years and focus on critical components such as the roof, structural systems, electrical, and waterproofing. This law aims to prevent deferred maintenance issues and costly special assessments, particularly after the tragic Surfside condo collapse in 2021.

Whether an association is legally required to conduct a study or not, regular reserve planning is essential. A full reserve study every few years, paired with annual updates, helps boards fulfill their fiduciary duties and avoid financial surprises. Beyond compliance, these studies support stable property values, reduce the risk of underfunding, and ensure owners have a clear picture of the long-term financial health of their community.

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