1. What changed in the law
Condominium and cooperative buildings three stories or taller must undergo milestone structural inspections — generally when the building reaches 30 years (local authorities may require earlier inspections based on conditions), and then every 10 years. Phase 1 is a visual inspection; Phase 2 follows if damage is found.
Associations must also complete a Structural Integrity Reserve Study (SIRS) covering the roof, structure, fireproofing, plumbing, electrical systems, waterproofing, windows and exterior doors, and must fund the resulting reserves — they can no longer vote to waive or underfund reserves for these items.
2. What it means for owners
Many older buildings have raised monthly fees to fund reserves, levied special assessments for repairs, or taken loans that owners repay over time. Prices of some older condos have adjusted to reflect these costs, while newer buildings and those that already completed repairs are in high demand.
3. Documents to review before you buy
Ask for the milestone inspection reports, the SIRS, the current budget and reserve balances, board and owner meeting minutes for the past 12–24 months, the estoppel certificate (dues and assessments owed), the insurance summary, any pending litigation, the percentage of owners delinquent, and the rental rules. Florida law gives resale buyers a short window to review the association documents and cancel.
4. Red flags
Reserves that are far below what the SIRS recommends; a special assessment of more than about $5,000 per unit in the last five years or one being discussed in the minutes; repairs postponed year after year; litigation involving the association or developer; lapses in insurance; and a high share of owners behind on dues. None of these automatically rules a building out — but each must be priced in.
5. Model the true cost
Use the HOA calculator to project fees with annual increases and a potential special assessment over five or ten years — and compare buildings on total cost of ownership, not on the listing price alone.
This guide is general information, not legal or tax advice. Laws and programs change — confirm details with a Florida attorney and a US tax professional.
