WE ARE A FULL SERVICE MEP DESIGN FIRM THAT SPECIALIZES IN MIXED USE MULTIFAMILY, LUXURY COMMERCIAL, RETAIL, OFFICE, HOSPITALITY, AND HIGH-RISE.

Required by FL Statutes 718.112, a Structural Integrity Reserve Study (SIRS) is a study of reserve funds required for major future repairs and replacement of common areas. It’s based on a visual inspection that must be conducted by a licensed engineer or architect, determining the life expectancy of 8 structural items. The study outlines the cost of maintenance and replacement of those items, so the association can budget correctly.  The first one must be completed by December 31st, 2024, then updated every 10 years.

A reserve study is a budget planning tool that looks at the parts of a building a condominium association is required to maintain, the status of the condominium’s existing reserve fund, and the amount of funding needed to offset anticipated expenses. A SIRS is a type of reserve study used to ensure condo owners are reserving the funds needed for future major repairs and replacement of structural elements on the condominium property. A SIRS includes eight specific structural elements that are critical to the safety of the building:

    1. Roof

    2. Structural Systems

    3. Fireproofing & Fire Protection Systems

    4. Plumbing

    5. Electrical Systems

    6. Waterproofing & Exterior Painting

    7. Windows & Exterior Doors

    8. Other elements over $10,000

The report should offer an in-depth analysis of both the legally required elements and additional community-specific reserve components. This all-encompassing approach ensures a comprehensive understanding of the total cost of ownership for the association. Associations are responsible for appropriately allocating existing reserve funds between structural (funding-required) and non-structural components. This comprehensive approach aids associations in confidently navigating their annual budgeting process.