What is the difference between a Reserve Study and Structural Integrity Reserve Study?
A Structural Integrity Reserve Study (SIRS) is a specialized type of reserve study that focuses on evaluating the safety and structural soundness of key building components. It became a legal requirement in Florida in 2022 under Senate Bill 4-D, following the tragic Surfside condominium collapse. SIRS is now mandatory for condominium buildings that are three stories or taller, and must be completed every 10 years, with the first studies due by December 31, 2024. Unlike traditional reserve studies, a SIRS cannot be waived by the board or homeowners, and it must cover elements related to structural safety—such as the roof, load-bearing walls, floors, fireproofing, electrical systems, waterproofing, and foundations.
In contrast, a standard reserve study is primarily a financial planning tool. It helps associations plan for the repair and replacement of major common elements over time—such as pavement, paint, clubhouse equipment, fences, and landscaping. These studies estimate the useful life and replacement costs of each component, then recommend annual contributions to a reserve fund. While not required in every state, a traditional reserve study is considered best practice and is often used to support budgeting, avoid special assessments, and meet fiduciary obligations.
One of the key differences is that SIRS focuses exclusively on critical structural components that could impact safety, whereas standard reserve studies include a broader range of non-structural items that contribute to the community’s appearance and function. A standard reserve study might include pool furniture or signage, but those items would not appear in a SIRS. In some cases, associations may conduct both types of studies to ensure they are meeting financial and fiduciary planning needs.
Ultimately, both types of reserve studies serve important but different purposes. Associations, especially in Florida, should understand when each is required and ensure they are updated regularly to maintain both physical and financial health.