-- Reserve Study Requirements
Who needs a Reserve Study.
In Florida, condominium associations managing buildings that are three stories or taller are required to conduct a Structural Integrity Reserve Study (SIRS).
How often do you need to update a Reserve Study.
A SIRS must be completed at least every 10 years.
Additional Information
The SIRS must be performed by a licensed engineer or architect and should include a visual inspection of critical structural components such as the roof, primary structural systems, load-bearing walls, fireproofing and fire safety systems, exterior painting and waterproofing, plumbing, electrical systems, and other items with a deferred maintenance or replacement cost exceeding $10,000.
Serving the Northeast
Serving the Great Lakes
Serving the Mountain
Serving the Southeast
Serving the Pacific West
Ponte Vedra
- 822 A1A North
Suite 310
Ponte Vedra FL 32082 - Phone: 888.315.2843
Fax: 888.316.4587
Email: mail@reservestudygroup.com
We focus on the detail and the big picture.
Our reserve study approach is simple. We provide you with the insight needed to make fast, accurate and informed decisions. We focus on understanding your situation and providing funding solutions that are designed with your goals in mind.
-- Reserve Study Requirements
Legislation
Florida law requires condominium associations managing buildings that are three stories or taller to conduct a Structural Integrity Reserve Study (SIRS). This requirement was introduced under legislation passed in 2022 following the Surfside condominium collapse. Associations existing as of July 1, 2022, must complete their first SIRS by December 31, 2024, and then update the study at least once every 10 years. The SIRS must be performed by a licensed engineer or architect and must include a visual inspection and funding analysis for key structural and safety components, such as the roof, load-bearing systems, waterproofing, fire safety systems, and plumbing or electrical infrastructure. These provisions aim to ensure long-term safety and financial preparedness, and apply regardless of whether the association has previously waived or reduced reserve contributions.
Sample Reserve Study Report
Our reports are designed to create an accurate and clear illustration of the Association’s financial and physical standing. We simplify the complex issue of reserve planning by giving you the entire picture in one easy to understand report.
-- Reserve Study
Our team of reserve study professionals works with associations throughout Florida State.
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
Frequently asked questions
Is a reserve study required in Florida?
Yes, for condominiums three stories or taller, a Structural Integrity Reserve Study (SIRS) is required at least every 10 years under Florida law.
How much do reserve studies cost?
Standard reserve studies in Florida typically cost between $2,500 and $10,000, depending on the property's size and complexity.
How much does a structural integrity reserve study cost in Florida?
A SIRS in Florida usually costs between $5,000 and $15,000, with prices varying based on the building’s age, size, and structural components involved.
How often should a condo association do a reserve study?
Florida law requires a SIRS every 10 years for applicable buildings, but many associations conduct standard reserve studies every 3 to 5 years for better financial planning.
What is the 720 reserve statute in Florida?
Florida Statute 720.303(6) governs reserves for homeowners’ associations (HOAs), stating that if reserves are established by developer declaration or member vote, the association must maintain them and may only reduce or waive them by a majority vote of the membership.
If you have any questions, our team of reserve study professionals will contact you immediately.
