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Call us Today 800.359.5015
RDA makes business a breeze with our expert Structural Integrity Reserve Study services.
In 2023, Florida signed into law, Senate Bill 154. This new legislation brings
significant changes to Structural Integrity Reserves Studies (SIRS).Thus Ensuring the
safety of the crucial long term elements of condominium buildings in Florida. These
changes address many aspects, as to who can perform the inspections and the vital
information to be included in the reserve studies. SIRS studies are essential for
funding major repairs and or replacements of primary structural elements and building
systems. SIRS requirements are focused on a visual inspection on eight essential
components, Roofing, structure, fire protection, plumbing, electrical systems,
windows, foundation, waterproofing, and any component costing more than $10,000
The legislation mandates condominium associations in existence prior to July 1, 2022
to complete their initial SIRS by the end of 2024. Subsequent studies must be
conducted every 10 years thereafter. An association obligated to conduct a Milestone
inspection by December 31, 2026 has the option to conduct the SIRS at the same time
as the milestone inspection, both being due by December 31, 2026.
Senate bill 154 states, a SIRS Report may be conducted by individuals with the necessary verified qualifications. Professionals who hold specific licenses or certifications, this includes individuals certified as reserve specialists RS (Community Association Institute Certification) or professional reserve analysists APRA (Association of Professional Reserves Certification) and Licensed engineer under Chapter 471 and licensed architects under Chapter 481.
The SIRS Report begins by identifying common areas that fall under the
association’s responsibility for maintenance, repair and replacement. This includes common areas accessible to all residents. Remaining useful life of components is a critical aspect of SIRS. Determining the useful life and current condition of these components require factoring in many conditions, such as wear and tear, maintenance history, and climate conditions. Accurately assessing the remaining useful life of the components ensures the association has the ability to budget and plan for future repairs and replacements effectively.
Reserve Data Analysis offers both the milestone inspection and the independent reserve study required by Florida law. Our independent reserve study includes a comprehensive review and financial analysis of each component required under SIRS guidelines, including a reserve funding schedule.
The New senate Bill 154, SIRS requirements are reshaping the condominium reserve future, by enhancing building safety, ensuring proper funding essential for maintenance for both property values and members’ homes. It is paramount residents stay informed and comprehends proper funding and maintenance for the longevity of their community.
Established in 1983, Reserve Data Analysis has a long history of performing reserve studies for associations across the United States. Our team of reserve study professionals (RS) consistently remains up-to-date on the latest changes in legislation, including the new requirements for the milestone inspection and a structural integrity reserve study. We offer everything you need and more. Get your SIRS scheduled today by a qualified team. Call us today at 800-359-5015 or contact us online to request a proposal!
RDA’s self-made and self-contained software is a fully integrated management, computational, and projection tool. Our software allows for greater detail, more accurate projections, and more intricate computations without the limitation of a 20- to 30-year window.
Using this software, our report also comes with a 3D MODEL of your facilities with a detailed breakdown of square footage.
A standard reserve study may not meet Florida’s statutory requirements. Our reserve study service analyzes building components and structures, but your current study may not contain language or a funding plan that complies with the new legislation.
Keep in mind that board members have a fiduciary responsibility to arrange for a SIRS if their association is required to have one. The new law provides that a willful and knowing failure to have a milestone inspection performed is a violation of this fiduciary obligation.
