Required by the state of Florida for condominiums with three stories or more by the end of 2024
Florida Statutory Requirements: Structural Integrity Reserve Studies
Per Senate Bill 154 and Florida Statutes revised as of 2023:
At a minimum, a Structural Integrity Reserve Study must identify the common areas being visually inspected, state the estimated remaining useful life and the estimated replacement cost or deferred maintenance expense of the common areas being visually inspected, and provide a recommended annual reserve amount that achieves the estimated replacement cost or deferred maintenance expense of each common area being visually inspected by the end of the estimated remaining useful life of each common area.
The “Structural Integrity Reserve Study”, section 718.112 (2)(g), must include, at a minimum for each building on the condominium property that is three stories or higher in height:
A study of the following items as related to the structural integrity and safety of the building:
Structure, including load-bearing walls and or other 721 primary structural members and primary structural systems as 722 those terms are defined in s. 627.706.
- Fireproofing and fire protection systems
- Electrical systems
- Waterproofing and exterior painting
- Windows and exterior doors
- 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 in subparagraphs a) through i), as determined by the visual inspection portion of the Structural Integrity Reserve Study.
Florida Reserve Budgets must still present fully funding for the following: