Following the tragic collapse of the Champlain Towers South building in Surfside, Florida lawmakers introduced sweeping reforms to condominium safety regulations.
One of the most important changes was the introduction of the Structural Integrity Reserve Study (SIRS) requirement.
Under Florida law, many condominium associations must now complete a Structural Integrity Reserve Study for buildings three stories or higher, with periodic updates required every ten years. (Building Mavens)
Unlike traditional reserve studies, SIRS focuses specifically on structural components such as:
• Foundations
• Load-bearing walls
• Roof systems
• Structural floors
• Waterproofing systems
The purpose is straightforward: ensure that condominium associations properly fund future structural repairs.
Historically, many associations could vote to waive reserve funding to keep fees low. But under the new law, certain structural reserves can no longer be waived. (Florida Engineering LLC)
That change has had major financial implications.
Across Florida, many condo associations are now facing large reserve funding requirements—sometimes resulting in significant increases in HOA fees or special assessments.
For boards, the challenge is balancing safety, financial planning, and affordability for residents.
And while structural funding is essential, boards should also evaluate other operational efficiencies—such as telecommunications infrastructure agreements—that may help offset costs or create new revenue opportunities.
As regulations evolve, proactive boards will focus not just on compliance, but on long-term financial sustainability.
Disclaimer:
This article is for informational purposes only and is not legal advice. All property situations are different. Property owners and boards should consult professionals regarding their specific circumstances. If you would like to explore opportunities specific to your property, reach out to Strateji Consulting to discuss your unique situation