How often should a HOA do a reserve study in Florida?

We recommend that Florida HOAs should complete a full reserve study every three to five years, with annual updates in between. 

For condominium and cooperative associations with buildings three or more habitable stories tall, the answer is set by law: a Structural Integrity Reserve Study (SIRS) at least once every ten years, with the first one due by December 31, 2025.

That's the short answer. The longer answer depends entirely on which Florida statute governs your community, because the state treats HOAs and condo associations very differently. This guide covers both, updated for the changes introduced by House Bill 913.

HOAs vs. Condos: Two Different Sets of Rules

Florida HOAs (Chapter 720): No Mandated Study, But a Real Obligation

If your community is a homeowners association governed by Chapter 720 of the Florida Statutes, there is no law requiring you to conduct a reserve study - in 2026, that remains unchanged.

But that doesn't mean reserves are optional territory. If your HOA has established reserve accounts, Florida Statute 720.303(6) requires that funding be calculated based on the estimated remaining useful life and replacement cost of each reserve item. 

This is very difficult to do based on guesswork.

A professional reserve study is how boards document that their reserve calculations rest on actual component conditions and current costs - which is exactly what protects directors if those numbers are ever challenged.

Members can still vote annually to waive or reduce reserve funding. It's legal, but it simply defers costs until they arrive as special assessments - and in Florida, they tend to arrive after a named storm.

Florida Condos (Chapter 718): The SIRS Requirement

Condominium and cooperative associations face much stricter rules, tightened after the 2021 Surfside collapse and refined by HB 913, which took effect July 1, 2025.

If your building is three or more habitable stories tall, your association must:

• Complete a Structural Integrity Reserve Study (SIRS) - the initial deadline, extended by HB 913, was December 31, 2025. The only exception is for associations completing the SIRS simultaneously with a milestone inspection due on or before December 31, 2026 - and even then, the SIRS cannot be completed any later than December 31, 2026. Outside that narrow window, an association without a completed SIRS is out of compliance and should act immediately.
• Repeat the SIRS at least every 10 years after the building's construction.
• Fully fund the structural reserve items the SIRS identifies. Since the 2025 budget cycle, owners can no longer vote to waive or underfund reserves for these components.

The SIRS covers the components that keep a building standing and safe: the roof, load-bearing walls and primary structure, fireproofing and fire protection systems, plumbing, electrical, waterproofing and exterior painting, windows and exterior doors, and any other item whose deferred maintenance would affect the building's structural integrity.

What HB 913 Changed

HB 913 is the most significant update to Florida's reserve rules since the post-Surfside legislation, and several changes affect how often - and how - associations plan their studies:

• Deadline extension. The initial SIRS deadline moved from December 31, 2024 to December 31, 2025.
• "Habitable stories" clarification. The three-story threshold now counts habitable stories only, so a building with a ground-floor parking garage and two residential floors above may fall outside the requirement.
• Higher reserve threshold. The replacement cost threshold for items that must be included in reserves rose from $10,000 to $25,000, indexed to inflation.
• Milestone inspection coordination. Associations that have completed a milestone inspection may defer the SIRS for up to two consecutive budget years to prioritise structural repairs, then must complete an updated SIRS.
• New funding tools. Boards can now fund reserves through special assessments, loans, or lines of credit with approval from a majority of voting interests.
• Baseline funding plan. Every SIRS must now include a baseline funding plan ensuring the reserve balance never drops below zero.

For a full breakdown of the statutes, see our Florida reserve study law guide.

The Recommended Schedule (Beyond the Legal Minimum)

Legal minimums are exactly that - minimums. The Community Associations Institute (CAI) framework, which we follow, distinguishes three levels of reserve study:

• Level I - Full Study. A complete study with a site inspection, component inventory, condition assessment, and a funding plan built from scratch.
• Level II - Update with Site Visit. An update of an existing study including an on-site inspection to verify component conditions.
• Level III - Update without Site Visit. A financial refresh of the existing study using current cost data and the association's actual reserve balance.

Storm exposure ages components faster than the tables predict 

Salt air, wind events, and water intrusion shorten the useful life of roofs, paint, waterproofing, and seawalls. 

A funding plan built on national useful-life averages will quietly become outdated and not very useful for application in Florida.

Construction cost inflation has been severe

Construction costs have increased dramatically over the last few years, which means a reserve study from even two to three years ago has become outdated.

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Insurers and lenders are now asking

Carriers increasingly request a recent reserve study at renewal, and underfunded reserves can affect premiums, coverage, and unit sales. A current study is becoming a financial document your association needs to produce on demand, not just an internal planning tool.

What Happens If You Wait Too Long

In Florida, the pattern is all too predictable if you wait too long.

Associations waive or underfund their reserves for several years, and then a major component fails (often due to a storm) and the board is forced to undertake a special assessment.

The cost of staying current is modest by comparison. A reserve study for a typical Florida HOA generally runs in the low thousands - see our guide to reserve study costs - and updates cost considerably less than full studies. Spread over three to five years, it is one of the cheapest forms of financial protection an association can buy.

Getting Your Florida Association on the Right Schedule

Whether you're an HOA setting up your first study or a condo board managing the 10-year SIRS cycle, the goal is the same: a funding plan that reflects what your components actually cost to replace, updated often enough to stay true.

Reserve Study Group produces clear, plain-English reports designed for board members, not engineers - and our PropFusion integration keeps your reserve data accessible and up to date between studies. Learn more about our reserve study services in Florida or request a proposal for your community.

Frequently Asked Questions

• Is a reserve study legally required for Florida HOAs in 2026? No. Chapter 720 does not mandate reserve studies for HOAs. However, if reserves have been established, they must be calculated based on remaining useful life and current replacement cost - which a professional study documents.
• How often must a Florida condo update its SIRS? At least every 10 years. HB 913 also allows associations that have completed a milestone inspection to defer the SIRS for up to two budget years while structural repairs are prioritized.
• Can Florida associations still waive reserves? HOA members can still vote annually to waive or reduce reserve funding. Condo owners cannot - since the 2025 budget cycle, reserves for SIRS structural components must be fully funded with no waivers.
• What's the difference between a reserve study and a SIRS? A traditional reserve study covers all major common components - roofs, pools, paving, clubhouses. A SIRS is narrower and deeper: it focuses specifically on the structural and life-safety components defined in Chapter 718 and carries mandatory funding obligations.
• Should we update our study after a hurricane? Yes. A Level II update within 6–12 months of a significant storm captures accelerated wear and any insurance-funded repairs, keeping your funding plan aligned with the building's actual condition.

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