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What Is A Florida Condo Structural Integrity Reserve Study?
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Buyers, Owners Rush To Find Out Before 2025
This story appeared in the Miami Condo Market Intelligence Report™ newsletter. To receive all future copies of the newsletter, please visit CondoVultures.com
The audio is AI generated based on the voice of Peter Zalewski, the author of this report and the founder of the Miami Condo Market Investing Club™.
If you live in a Florida condo and don’t know what a SIRS is, consider this your introduction to an acronym that will likely dominate all future association discussions and debates about maintenance fees and special assessments for the foreseeable future.
The SIRS acronym stands for Structural Integrity Reserve Study.
In basic terms, it is a two-part evaluation conducted by experts - such as engineers, architects and reserve specialists - to determine the physical and financial status of all residential structures in a condo association that are at least three-stories high.
Florida requires a SIRS to be conducted every 10 years. The SIRS provides a roadmap for condo association board members - who are usually volunteers that own in a project - to better understand the physical condition of the buildings in a community and what it will cost to maintain them in the future.
To read the report, please visit: https://condovultures.com/what-is-a-florida-condo-structural-integrity-reserve-study-buyers-owners-rush-to-find-out-before-2025/
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