Florida Reserve Studies — What Changed and Why It Matters: Current Reserve Requirements for All Florida Associations
All associations in Florida, regardless of height, must now present a fully funded budget.
Townhomes, HOAs, Two-Story or Commercial Condos, and Co-Ops
- Your traditional reserve study should include the same structural items covered in an SIRS, including plumbing, electrical, fire protection, and common area windows, load-bearing walls, etc.
- The key difference is that traditional reserve contributions can be partially funded or waived, but only by membership vote. Waiving contributions now means special assessments later.
- The goal is transparency. Lawmakers want every Florida unit owner to have a clear picture of the true cost of living in their community. Owners can vote to waive, but they should also understand when and how much costs will come due.
Residential Condos and Co-Ops with 3+ Habitable Stories
These communities must also complete a Structural Integrity Reserve Study (SIRS) prepared by a licensed engineer or Reserve Specialist (RS).
- SIRS reserves cannot be waived.
Important Carve-Out: Under HB 1021 (2024), associations that are actively completing Milestone repairs or recertification work may vote to waive SIRS funding for up to two years. This is a temporary exception only. (See section below: “Can Florida Associations Waive SIRS Funding?”)
- Any budget adopted in 2025 must include full SIRS funding. No choice, the SIRS must be adopted for 2026.
- A baseline funding option must be presented. Baseline funding represents the lowest legally acceptable level, but it can be risky, as it often leaves little cushion.
- Associations should also complete a separate Traditional Reserve Study for non-structural components. Those traditional reserves can still be waived or partially funded by a membership vote.
📌 Bottom line: Every community in Florida must show a fully funded budget starting with the 2026 budget (adopted in 2025). Non-SIRS studies can be waived or reduced, but you MUST show the homeowner what it truly costs to live in your community.
That’s Why Stone Building Solutions Offers:
✅ FREE Reserve Audits – Quickly learn if your reserve study is compliant with the latest Florida requirements and whether your association’s dues can be optimized.
✅ Board Review Meetings – Meet directly with your Reserve Specialist to review the study, ask questions, and ensure board members fully understand the results, so they can confidently explain it to the membership.
✅ Affordable, Engineering-Backed Pricing – Every study is prepared by a team of licensed engineers and certified Reserve Specialists working together, delivering accuracy, compliance, and value.
Florida SIRS Reserve Study Review — Free Second Opinion
Not Sure Your Florida Reserve Study Is Correct? Free Audit Available
Already have a Structural Integrity Reserve Study (SIRS) but not sure it’s correct? You’re not alone. Florida law gives your board the right to question results and even replace a study if needed.
Here’s what to ask yourself:
❓ Do you disagree with the findings?
Boards have the right to commission a new SIRS that can override the existing report.
❓ Were repair and replacement costs fully investigated?
The law requires both replacement and deferred maintenance expenses to be considered.
❓ Have recent repairs or upgrades been completed?
Work that’s already done may change your funding requirements.
❓ Are you eligible for a temporary SIRS waiver?
Some associations qualify for a two-year waiver if repairs are in progress.
❓ Does your report include a baseline funding option?
Florida law now defines adequacy as baseline funding—your study must include it.
Here’s the real question: Do you owe it to your membership to take a second look?
- Owners are trusting the board with their money.
- Buyers, lenders, and insurers are now reviewing these studies.
- A wrong SIRS could mean overpaying in dues or being blindsided with special assessments.
📌 Stone Building Solutions offers FREE SIRS AUDITS — a professional review and second opinion from our engineers and Reserve Specialists. We make sure your community isn’t paying too much, underfunding dangerously, or presenting a flawed study to your owners.
Can Florida Associations Waive SIRS Funding?
Many boards are asking: “Can we vote to waive SIRS reserves in Florida?”
The answer is yes, but only in very specific situations.
What the Law Says
Under the Updated Florida SIRS Law (Florida Statute 718.112, effective 2025):
- SIRS reserves are mandatory and normally cannot be waived.
- Lawmakers recognized that SIRS funding numbers may not be accurate if a community is in the middle of major repairs triggered by a milestone inspection or recertification.
- To address this, the law allows associations to vote to temporarily waive SIRS funding for up to two years while repairs are being completed.
How the SIRS Waiver Works - From HB1021 Effective 7/1/2025
Must be approved by a membership vote (not just the board).
Can only be used when the association is actively completing milestone/recertification repairs.
May be applied for up to two years, but no later than 2028.
- In practice, that means the 2025, 2026, and 2027 budgets are the only times this waiver can be used.
After repairs are finished, the association must commission a new SIRS before restarting funding.
The waiver cannot be used as a delay tactic or a way to avoid reserves indefinitely.
Why the Waiver Exists
Think of it as a relief valve:
- If your association already levied a loan or special assessment for roofs, concrete, or structural work, your SIRS would otherwise show inflated numbers.
- The waiver prevents boards from double-collecting while those repairs are being directly funded.
Risks of Misusing the Waiver
The waiver is not a loophole. Misusing it could backfire by:
Triggering regulatory scrutiny under Florida Statute 718.112.
Lowering property values if banks and buyers see underfunded reserves without justification.
Leading to sudden special assessments once the waiver expires.
Eroding owner trust in the board’s financial leadership.
Key Takeaways for Boards & Owners
- You cannot permanently avoid SIRS reserves.
- The waiver is only for active milestone/recertification repairs.
It’s limited to two years and must be completed by 2028. - Afterward, you must adopt a new SIRS and resume full funding.
📌 Stone Building Solutions helps associations determine if they are eligible for a waiver, prepare compliant membership notices, and update SIRS studies once repairs are complete
Services
Differences between SIRS and Traditional Reserve Study
Structural Integrity Reserve Study
- Required for 3+ story condos
- 8 specific structural items
- An engineer, architect or RS (certified Reserve Specialist) must inspect the site
- Funding required (not waived or pooled)
- Required to be completed for ALL 3+ story residential condos by December 31st, 2024
- Required every 10 years
Traditional Reserve Study
- All building types - no requirements
- Structural and non-structural items
- Anyone can inspect the site
- No funding requirements
- No timeline requirements
Structural Integrity Reserve Study (SIRS)
Law-compliant report allocating for reasonable repair, not necessarily full replacement. Engineering Included.
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The 8 items included in the Structural Integrity Reserve Study (SIRS)
- Roofing
- Load-bearing walls and other primary members
- Fireproofing and fire protection
- Plumbing
- Electrical
- Waterproofing and exterior paint
- Common-area windows & doors
- Any structural items over $25,000
Traditional Reserve Study
Our plan keeps your communities beautiful, and your pockets full.
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SIRS & Traditional Reserve Study
If you’re forced to do a reserve study on 8 items, why not get a discounted 2-in-1 report for the whole community?
SIRS and Traditional Reserve Study combined into one.
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Frequently Asked Questions
No. Starting January 1, 2025, SIRS reserves cannot be waived or reduced by membership vote. Every association must fund reserves at least to the baseline level.
Traditional reserve components may be waived with a membership vote.