Article Courtesy of The Clermont Sun

By Billy Kirk

Published June 15, 2025

Condo owners across Florida are bracing for steep financial shocks as new state- mandated building inspections and reserve funding laws are making associations fully fund reserves, almost overnight in some cases.

For many retirees and long-time residents, these changes could mean the difference between staying in their homes or being forced to try to sell their homes that are saddled with untenable financial burdens.

At the heart of the issue are two new requirements: the Structural Integrity Reserve Study (SIRS) and Milestone Inspections, both introduced in response to the deadly 2021 Champlain Towers South collapse in Surfside that claimed 98 lives.

Lawmakers acted swiftly after the tragedy, passing legislation aimed at preventing similar disasters, but with unintended consequences.

Under the new law, all condo associations in buildings three stories or taller must conduct a Milestone Inspection by a licensed architect or engineer once the building hits 30 years of age — or 25 years if it’s within three miles of the coast. If the initial inspection reveals serious structural issues, a more comprehensive Phase 2 inspection is necessary.

In parallel, the SIRS requires associations to evaluate key structural elements, such as roofing, balconies, electrical systems, plumbing, and concrete, every 10 years. More critically, all Florida condos must fully fund reserves for future repairs based on the SIRS findings — no more waiving or partially funding reserve contributions, a common practice in the past.

For condo owners, especially in older buildings, this is triggering massive spikes in association fees. In some communities, quarterly dues are doubling or tripling overnight to meet the new reserve requirements.

“I’m paying $2,900 per quarter now, and when this goes into effect for our condo association in July, my quarterly payment will increase to $7,100 per quarter for a one-bedroom condo,” said one frustrated condo owner. “How can retirees on fixed incomes handle this? Many of us feel trapped. We can’t afford to stay, but with fees this high, who’s going to buy our units?”

Real estate experts warn the new rules may stall condo sales in aging buildings. Potential buyers, already wary of hidden repair costs, are now confronted with dramatically higher fees and few legal workarounds. That could mean another blow to Florida’s already-soft housing market.

Safety should never be compromised, but the timeline for compliance is too aggressive. A phased approach would allow associations and residents more time to adjust without devastating financial hardship.

For now, thousands of condo owners are left scrambling — reviewing budgets, exploring loan options, and in some cases, making the painful choice to sell, move or have their unit foreclosed on due to non-payment of these fees.

“We all want safe buildings,” the condo owner added. “But it feels like the state is pushing us out of our homes to get there.”

The State of Florida should take a step back, place moratorium on all actions related to the SIRS and Milestone Inspections and reevaluate the implementation and timeframe of these new mandates.