What is a SIRS report in Florida, and what is the deadline?

What does a SIRS include?

A SIRS estimates the remaining useful life and the replacement cost or deferred maintenance expense of key building components and sets a reserve funding plan. It must cover at least:

• Roof
• Structure, including load-bearing walls and primary structural members and systems
• Fireproofing and fire protection systems
• Plumbing and electrical systems
• Waterproofing and exterior painting
• Windows and exterior doors
• Any other item whose deferred maintenance or replacement cost exceeds $25,000 or DBPR's inflation-adjusted amount, whichever is greater, if its failure would harm the items above (DBPR lists the 2026 threshold as $25,675)[1][2][3]

Who prepares it, and when is it due? (as of 2026)

The study must be performed or verified by a Florida-licensed engineer or architect, or by a reserve specialist or professional reserve analyst certified by the Community Associations Institute or the Association of Professional Reserve Analysts. At minimum it must recommend a baseline funding plan that keeps the reserve cash balance above zero each budget year. Buildings under three stories, one- to four-family dwellings with three or fewer habitable stories, and portions not under condominium ownership or maintained by someone else are excluded.

Unit-owner-controlled associations that existed on or before July 1, 2022 had to complete a SIRS by December 31, 2025. An association with a milestone inspection due on or before December 31, 2026 may complete the SIRS at the same time, but in no event after December 31, 2026. A milestone inspection done within the past 5 years that meets the requirements can replace the SIRS visual inspection.[1][2]

Why does the SIRS affect your monthly assessment?

For budgets adopted on or after December 31, 2024, owners in a unit-owner-controlled association that must have a SIRS can no longer vote to waive or reduce reserves for SIRS components (a narrow exception exists for certain multicondominiums with a DBPR-approved alternative funding method). Reserve amounts for those items must follow the most recent SIRS, and owners may not vote to use those reserve funds for other purposes.

Reserves can be funded with regular assessments, special assessments, lines of credit or loans; a special assessment, line of credit or loan under that provision needs approval by a majority of the total voting interests. For budgets adopted on or before December 31, 2028, an association that completed a milestone inspection within the previous 2 calendar years may, with majority approval of the total voting interests, pause or reduce reserve contributions for up to two consecutive annual budgets to pay for milestone repairs, and must get a new SIRS before resuming.[1]

How do owners and buyers get the study?

Within 45 days after receiving the SIRS, the association must give each owner a copy or a notice that it is available on written request, and must file a statement with DBPR that the study was completed. Associations with 25 or more units must post the most recent SIRS on their website, and resale buyers are entitled to the most recent SIRS or a statement that none has been completed.

A willful and knowing failure by officers or directors to complete a required SIRS is a breach of their fiduciary duty to owners. Before you buy, read the full study and funding plan, and consult a Florida real-estate attorney or CPA if the numbers raise questions.[1][4][5]