Why Florida condo assessments went up
After the 2021 Surfside collapse, the Legislature passed SB 4-D in 2022 and amended it with HB 1021 in 2024 and HB 913 in 2025. Two rules drive most of the new costs.
Milestone inspections
- Condo and co-op buildings three or more habitable stories tall need an inspection by December 31 of the year the building turns 30, counted from the certificate of occupancy, and every 10 years after that.
- The local building department can lower this to 25 years based on local conditions such as nearness to salt water.
- Phase 1 is a visual inspection by an engineer or architect. Phase 2, with testing, is required only if Phase 1 finds substantial structural deterioration.
Structural Integrity Reserve Study (SIRS)
- Buildings with three or more habitable stories must have a SIRS at least every 10 years. HB 913 moved the first deadline to December 31, 2025.
- It covers roof, structure including floors and foundation, fireproofing and fire protection, plumbing, electrical, waterproofing and exterior paint, windows and exterior doors, plus other items over $25,000 that affect them.
- For budgets adopted on or after December 31, 2024, owners can no longer vote to waive or reduce reserves for SIRS items.
- Since HB 913, reserves can also be funded by special assessment, loan or line of credit with approval of a majority of all voting interests. If a milestone inspection in the past two years called for repairs, owners can pause or reduce SIRS contributions for up to two budgets adopted by December 31, 2028.
Before you buy a condo
Ask for the latest SIRS, the milestone inspection report, the current budget and board minutes. A building with a pending assessment can still be a good buy if the price reflects it.
Questions
Where do I find my ownership share?
In the declaration of condominium, usually in an exhibit that lists each unit and its percentage of common expenses. Assessments are split by that percentage.
Can owners vote to skip SIRS reserves?
Not anymore. For budgets adopted on or after December 31, 2024, reserves for SIRS items cannot be waived or reduced, except for the limited two-budget pause after a milestone inspection allowed by HB 913.
Who pays an assessment when a unit sells?
The purchase contract decides. Standard Florida contracts treat assessments already levied differently from ones still proposed, so read that clause before signing.
