SIRS for condos: Florida's reserve study rules explained

Last updated 2026-07-24

What is a SIRS for condos, exactly?

A Structural Integrity Reserve Study (SIRS) is a study of a condo building's major structural components, done by a licensed engineer or architect, that produces a funding schedule for repairing or replacing each one before it fails. Florida created this requirement after the Surfside collapse in 2021, and it now lives in Fla. Stat. 718.103(23) and 718.112(2)(g) ^[1]. A SIRS is not the same thing as a milestone inspection. The milestone inspection (under Fla. Stat. 553.899) is a one-time structural safety check tied to a building's age, usually required at 25 or 30 years depending on coastal location, and repeated every 10 years after. A SIRS is different: it is a reserve funding study, done at least every 10 years, and it never expires or gets waived away by a board vote. The statute is direct about this: reserves for the SIRS-covered items "may not be waived or reduced" ^[1]. Who needs one? Any condominium association with a building three stories or higher in height, based on the number of habitable stories above the base flood elevation for the building's location, per Fla. Stat. 718.103(23) ^[1]. Two-story buildings and single-family HOAs are not covered by the SIRS statute, though HOAs still have their own reserve planning obligations under separate law. The first deadline for most associations was December 31, 2024, per Fla. Stat. 718.112(2)(g)4 ^[1]. If your association's first SIRS is not done yet, get it moving now. Waiting longer does not make the study cheaper, and boards that blow past the deadline face real exposure if a unit owner or buyer's attorney later asks for records that don't exist.

What does a SIRS actually study?

A SIRS must, at minimum, look at these load-bearing and life-safety items, per Fla. Stat. 718.112(2)(g)2: roof, load-bearing walls and other primary structural members and primary structural systems, floor, foundation, fireproofing and fire protection systems, plumbing, electrical systems, waterproofing and exterior painting, windows and exterior doors, and "any other item that has a deferred maintenance expense or replacement cost that exceeds $10,000 and the failure to replace or maintain such item negatively affects the items listed" ^[1]. For each of these components, the licensed engineer or architect performing the study documents the estimated remaining useful life and the estimated cost of replacement or maintenance. That data feeds directly into the reserve schedule. This is narrower than a general reserve study for cosmetic or amenity items like a pool deck resurface or clubhouse carpet, which associations can still choose to underfund or waive by member vote. SIRS items cannot be waived. That distinction trips up a lot of boards who assume "we voted to reduce reserves" covers everything. It doesn't, not for these structural line items. See our reserve study explainer for how a general reserve study differs from the mandatory SIRS in scope and legal weight.

What is a reserve study, in plain terms?

A reserve study is a long-range budgeting document that inventories a building's major shared components, estimates how many years each has left, and calculates how much money the association needs to set aside each year to pay for future repairs and replacements without a surprise special assessment. Think of it as a maintenance and savings plan rolled into one report. A typical reserve study has two parts: a physical analysis (what components exist, their age, condition, expected remaining life) and a financial analysis (current reserve balance, funding goal, recommended annual contribution). Community association professionals commonly cite a rule of thumb that reserve studies get refreshed every 3 to 5 years, with an on-site visual update in between full studies, though Florida's SIRS statute sets its own 10-year cycle for the structural components specifically ^[1]. For Florida condos, the SIRS is now the legally required version of this study for structural items. Associations can and often should still do a broader reserve study covering non-structural common elements (pools, elevators interiors, paving, painting) on top of the SIRS. See our general reserve study for condo association guide for how the two interact.

What is a reserve study for an HOA, and how is it different from a condo's SIRS?

For homeowners associations (HOAs), a reserve study serves the same basic function, projecting future common-area repair costs and setting savings targets, but Florida's SIRS statute does not apply to HOAs. SIRS is written into the condominium chapter, 718.112, not the HOA chapter, 720. HOAs still have reserve obligations under Fla. Stat. 720.303(6), which requires that if an HOA's budget includes reserve accounts, they must be funded by the required formula unless owners vote to waive or reduce them, similar to how condo reserves worked before SIRS but without the SIRS carve-out for structural items. The statute states that reserve funds and any interest "may be used for the purposes for which they were reserved... unless the use of the reserves for other purposes is approved in advance by a majority vote" of the membership ^[2]. That said, HOAs with attached buildings, condo-style townhomes, or multi-story common structures should think hard about voluntarily commissioning something SIRS-like. Waiving reserves year after year with a simple majority vote is legal for most HOA components, but it just shifts the bill to a future board and a future special assessment. See our hoa reserve study page for HOA-specific mechanics.

How much should a condo or HOA have in reserves?

Pre-2022 Florida condo reserves (non-structural)	Yes, by annual member vote	All condo common elements
SIRS-covered structural items (current law)	No	Roof, load-bearing walls, floor, foundation, fireproofing, plumbing, electrical, waterproofing, windows/doors, and $10k+ items [1]
HOA reserves under 720.303(6)	Yes, by member vote (unless declaration says otherwise)	HOA common areas [2]

There is no single dollar figure that's "correct" for every building; it depends entirely on square footage, component age, local labor and material costs, and how much deferred maintenance already exists. The honest answer is: enough to fully fund the schedule your engineer or reserve specialist produces, which for SIRS items is now legally mandatory in Florida condos, not a target you can round down. Before the 2022 and 2023 legislative changes, many Florida associations budgeted reserves at far less than 100% of the calculated need, sometimes 50% or less, because owners could vote every year to underfund. That option is now gone for SIRS-covered structural components starting with each association's first SIRS-informed budget. The statute states associations "must include the funding of reserves" for SIRS items "calculated on the basis of a structural integrity reserve study" and that this reserve funding "may not be waived or reduced" ^[1]. As a rough industry benchmark (not a Florida-specific legal figure), reserve study firms commonly describe a healthy funding target as a reserve fund at or above roughly 70% of the fully funded amount calculated in the study, with 100% being the ideal for buildings carrying real structural risk. There's no single universally agreed number, and any board relying on secondhand percentages should ask their reserve preparer what percentage of full funding their own building sits at, then plan the glide path back up. For a data table view of general reserve funding practice versus Florida's mandatory SIRS approach: | Approach | Can owners vote to waive/reduce? | Applies to |

What is an HOA assessment (and how is it different from a condo assessment)?

An HOA assessment is a fee the association charges homeowners to fund shared expenses, operating costs like landscaping and insurance, plus reserve contributions for future repairs. Assessments are usually billed monthly, quarterly, or annually and are set out in the association's governing documents and annual budget. There are generally two types. Regular (or "annual") assessments cover routine operating and reserve needs and get approved each year through the normal budget process. Special assessments are one-time or short-term charges added on top of regular dues, used when reserves fall short of an unexpected or underfunded cost, a new roof, storm damage, a big structural repair flagged in a SIRS. Condo assessments work the same way conceptually but sit under Fla. Stat. 718 rather than 720, and boards have specific notice and voting rules for special assessments depending on the size and the association's declaration. See our hoa special assessment page for the notice and voting mechanics, and condo special assessment insurance if you're weighing insurance options against a large special assessment.

What triggers a special assessment, and how big can they get?

A special assessment usually gets triggered by one of three things: an emergency repair (storm damage, a burst pipe, a sudden structural finding), a funding gap that a reserve study or SIRS exposes, or a capital project the association wants that reserves don't cover (a new roof ahead of schedule, elevator modernization, concrete restoration). SIRS is actually driving a wave of these right now. Once an engineer's report shows a building needs, say, $4 million in concrete restoration and the reserve account holds $600,000, the board has three practical choices: raise regular assessments sharply, borrow (a special assessment loan or line of credit), or levy a lump-sum special assessment. Most boards end up doing some combination of borrowing plus a special assessment, because a single huge lump-sum bill often triggers owner hardship, unit sales, and sometimes litigation. There is no statutory dollar cap on how large a Florida condo special assessment can be; the limits are practical (what owners can actually pay) and procedural (notice requirements, and in some cases a membership vote if the declaration requires one for assessments above a certain threshold). Confirm your declaration's specific voting thresholds with association counsel before finalizing a large assessment; this varies building to building and isn't something a general article can verdict for your specific documents.

Are HOA and condo special assessments tax deductible?

Generally, no, not for the individual owner, and not in the way many people hope. The IRS treats regular HOA and condo assessments, and most special assessments, as personal living expenses when the property is your primary residence, similar to how your own home repairs aren't deductible. IRS Publication 527, covering residential rental property, draws this line for owners who rent out their units: costs that are capital improvements can be added to basis and depreciated, while ordinary repairs and maintenance are generally currently deductible as a rental expense, but neither treatment applies to a special assessment on a personal residence ^[3]. There are narrow exceptions. If you rent out your unit, the portion of a special assessment tied to a capital improvement (a new roof, structural restoration) is generally not immediately deductible either, but it can typically be added to your cost basis and depreciated over time as a capital expenditure, per IRS Publication 527 ^[3]. If a special assessment funds actual repair and maintenance (not a capital improvement) on a rental unit, that portion may be currently deductible as a rental expense. This is genuinely fact-specific and depends on whether you live in the unit, rent it, and whether the assessment pays for a repair versus a capital improvement. Talk to a CPA before assuming either way; don't rely on a board member's guess or a general article (including this one) as tax advice.

How much does a reserve study or SIRS cost?

Costs vary widely by building size, number of components studied, and region, but rough ranges reported by reserve study firms and engineering consultants put a full reserve study (non-SIRS, general common elements) at roughly $3,000 to $10,000+ for a mid-size condo association, with larger or more complex properties running higher. A SIRS specifically, because it requires a licensed engineer or architect and covers structural, life-safety, and building envelope systems in more technical depth, tends to cost more than a typical financial-only reserve study. Reported ranges from Florida engineering firms and condo trade groups commonly fall between roughly $5,000 and $20,000+ depending on building height, number of buildings in the association, and site access difficulty (high-rises and buildings with structural complexity or prior deferred maintenance cost more to assess). There is no statutory fee schedule for SIRS pricing under Fla. Stat. 718.112 ^[1]. Boards should get at least two or three quotes from Florida-licensed engineers or architects who have SIRS experience specifically, more than general reserve study preparers, since the statute requires a licensed engineer or architect (more than any reserve specialist) to perform this particular study ^[1]. Cheapest bid is rarely the right pick here; ask for sample reports and references from other condo boards.

Who can legally perform a SIRS in Florida?

Only a licensed engineer or licensed architect can perform a Structural Integrity Reserve Study in Florida, per Fla. Stat. 718.112(2)(g) ^[1]. This is different from a general (non-structural) reserve study, which many associations have historically had prepared by reserve study specialists who aren't necessarily engineers. If your board is choosing a firm, verify the individual engineer or architect's active Florida license through the Department of Business and Professional Regulation's license search before signing a contract. Florida's engineering license lookup and verification tool covers exactly this check. A board's job here is coordination, not engineering. Boards should gather bids, check licenses and references, schedule building access, get the report distributed to owners as required, and then translate the findings into a funding plan and budget line items. That last part, the administrative and communication burden, is exactly the kind of task that eats up unpaid volunteer board members' time every cycle. A $199 Building-Specific Board Compliance Kit (see board kit builder) exists specifically to organize deadlines, generate owner notices, and track your SIRS and milestone timeline in one place, so the board isn't rebuilding a spreadsheet from scratch every renewal cycle. It doesn't replace the engineer's study or give legal opinions on your documents; it just keeps the paperwork and deadlines from falling through the cracks.

What happens if a Florida condo board skips or delays its SIRS?

Skipping the SIRS doesn't make the underlying structural risk disappear, and it creates real legal and financial exposure for board members and the association. Fla. Stat. 718.112 ties SIRS completion directly to the reserve funding requirement, meaning an association without a current SIRS cannot properly demonstrate that its non-waivable structural reserves are calculated correctly ^[1]. Practical consequences boards have reported and that trade associations warn about: buyers' lenders and title companies increasingly ask for SIRS and milestone documentation before closing, since Fannie Mae maintains condo project eligibility standards tied to structural soundness and reserve adequacy in its Selling Guide (the Guide requires projects to be reviewed for significant deferred maintenance and structural issues before loans are eligible for delivery) ^[4]; associations without current studies risk units becoming harder to finance. Delayed studies also mean delayed, and usually larger, special assessments later, since deferred structural problems compound. There is also a disclosure angle: boards distributing budgets or assessment notices without accounting for SIRS-driven reserve requirements risk owner complaints, and in some cases, litigation over breach of fiduciary duty if a board knowingly ignored the requirement. None of this is a substitute for legal advice specific to your association; confirm your building's exact status, deadlines, and any extensions with your association's counsel and your county building department, since some local jurisdictions layer additional inspection timing on top of the state statute.

How does SIRS interact with the milestone inspection and the 25/30-year deadline?

The milestone inspection and the SIRS are two separate but related requirements, and Florida buildings age 3+ stories generally need to track both. The milestone inspection is a structural safety check required at 25 years from the certificate of occupancy for buildings within 3 miles of the coast, or 30 years for buildings farther inland, then every 10 years after, under Fla. Stat. 553.899 ^[5]. The SIRS, by contrast, is purely a reserve funding study on its own 10-year cycle, independent of the building's age-based milestone trigger, though many associations schedule the two studies close together since an engineer visiting the property for one can often gather much of the data needed for the other. See our Florida condo reserve fund relief page for how the legislature has adjusted timing and funding relief provisions since the original 2022 and 2023 laws, since lawmakers have revisited SIRS deadlines and funding rules more than once and further changes are plausible. Always confirm current deadlines with DBPR's published guidance and your association's counsel before finalizing a board calendar.

Frequently asked questions

What is a reserve study?

A reserve study is a report that inventories a building's major shared components, estimates their remaining useful life, and calculates how much money an association should save each year to pay for future repairs without a surprise special assessment. In Florida condos, the structural portion of this is now the mandatory SIRS under Fla. Stat. 718.112 ^[1].

What is a reserve study for an HOA?

For an HOA, a reserve study projects future common-area repair and replacement costs (roofs, paving, amenities) and sets a savings target. Unlike Florida condo SIRS, HOA reserve rules under Fla. Stat. 720.303(6) let owners vote each year to waive or reduce reserve funding, so a reserve study for an HOA is a strong recommendation, not a structural mandate ^[3].

What is an HOA assessment?

An HOA assessment is a fee charged to homeowners to fund shared operating costs and reserve contributions, set through the association's budget and governing documents. Assessments can be regular (recurring dues) or special (one-time charges for unexpected repairs or capital projects not covered by existing reserves).

How much should an HOA or condo have in reserves?

There's no single dollar figure; it depends on the fully funded amount calculated in your reserve study or SIRS. Industry benchmarks often cite roughly 70% of full funding as a reasonable minimum target, with 100% ideal for buildings carrying structural risk. For Florida condo SIRS-covered items, full funding per the study is now legally required, not optional ^[1].

How much does a reserve study cost?

A general (non-structural) reserve study for a mid-size condo or HOA typically runs roughly $3,000 to $10,000+, depending on property size and complexity. A Florida SIRS, which requires a licensed engineer or architect and covers structural systems, tends to run higher, commonly cited in the $5,000 to $20,000+ range depending on building height and condition.

Are HOA or condo special assessments tax deductible?

Generally no, for a primary residence, special assessments are treated as personal living expenses, similar to home repairs, and aren't itemized deductions. For rental units, a special assessment tied to a capital improvement can typically be added to cost basis and depreciated, while one funding an actual repair may be currently deductible as a rental expense. Confirm your specific situation with a CPA.

What is SIRS in Florida condo law?

SIRS stands for Structural Integrity Reserve Study, a Florida-mandated study of a condo building's major structural components (roof, load-bearing walls, floor, foundation, plumbing, electrical, and more) performed by a licensed engineer or architect, done at least every 10 years, per Fla. Stat. 718.112(2)(g) ^[1].

Which buildings need a SIRS?

Florida condominium associations with buildings three stories or higher, based on habitable stories above base flood elevation, need a SIRS under Fla. Stat. 718.103(23) ^[1]. Single-family HOAs and two-story condo buildings are not covered by the SIRS requirement, though other reserve rules can still apply.

Can a condo board vote to waive SIRS reserve funding?

No. Unlike general reserve items, reserve funding for SIRS-covered structural components "may not be waived or reduced" by a membership vote once the study is complete, per Fla. Stat. 718.112(2)(f) ^[1]. This is the key legal difference from pre-2022 Florida condo reserve practice.

Is a SIRS the same as a milestone inspection?

No. A milestone inspection is a structural safety check required at 25 years (coastal) or 30 years (inland) from the certificate of occupancy, repeated every 10 years, under Fla. Stat. 553.899 ^[6]. A SIRS is a separate 10-year reserve funding study focused on setting aside money for structural repairs, required under Fla. Stat. 718.112 ^[1].

Who can legally perform a SIRS?

Only a Florida-licensed engineer or licensed architect can perform a Structural Integrity Reserve Study, per Fla. Stat. 718.112(2)(g) ^[1]. Boards should verify the individual's active license through the Florida DBPR license search before hiring, since not every general reserve study firm employs licensed engineers.

What happens if my association misses its SIRS deadline?

There's exposure on multiple fronts: the association can't properly calculate its now-mandatory structural reserves, buyers' lenders may flag the building for financing issues, and board members risk fiduciary duty complaints from owners. Delayed studies also tend to produce delayed and larger special assessments later. Confirm your building's specific status with counsel and your county building department.

Does SIRS apply to HOAs or just condos?

SIRS applies specifically to condominium associations under Fla. Stat. 718.112, not to standard single-family HOAs, which fall under chapter 720 with different (more flexible) reserve rules under 720.303(6) ^{[1] [3]}. HOAs with condo-style attached structures should check with counsel on which rules actually apply to their specific building type.

Sources

1. Florida Senate, Florida Statutes Chapter 718.112: SIRS definition, covered structural components, non-waivable reserve funding requirement, and licensed engineer/architect requirement
2. Florida Senate, Florida Statutes Chapter 720.303: HOA reserve funding rules and member vote to waive or reduce reserves
3. IRS, Publication 527, Residential Rental Property: Tax treatment of special assessments and capital improvements versus repairs for rental property
4. Fannie Mae, Selling Guide B4-2.2-01, General Information on Project Standards: Lender project review requirements tied to structural and reserve status for condo financing eligibility
5. Florida Senate, Florida Statutes Section 553.899: Milestone inspection requirement at 25 years (coastal) or 30 years (inland) from certificate of occupancy, repeated every 10 years