Florida Reserve Requirements for Condos and HOAs (2026)
Under Florida condo reserve requirements, condo buildings three habitable stories or higher need a structural integrity reserve study (SIRS) at least every 10 years. For budgets adopted on or after December 31, 2024, owners can’t waive or reduce reserves for SIRS items. By contrast, Florida homeowners associations governed under Chapter 720 treat capital reserve accounts as optional unless the membership votes to mandate them.
Florida’s recent condo reform laws are House Bill 1021 (2024, ch. 2024-244) and House Bill 913 (2025, ch. 2025-175). Whether your community is under Chapter 718 (condos) or Chapter 720 (HOAs) decides which of these rules apply.
Condos vs. HOAs at a Glance
The division between condominiums and homeowners associations comes down to the governing chapter of the Florida Statutes. Condominiums fall under Chapter 718 of the Florida Statutes. Homeowners associations fall under Chapter 720, where no structural integrity reserve study applies.
| Statutory Topic | Condominiums (Chapter 718) | Homeowners Associations (Chapter 720) |
|---|---|---|
| Statutory authority | Florida Statute § 718.112 | Florida Statute § 720.303(6) |
| Mandatory reserves | SIRS-item reserves cannot be waived for budgets from Dec 31, 2024 | Optional; budget may include reserves, but requires member vote to mandate |
| Structural Integrity Reserve Study | Mandatory every 10 years for buildings 3 habitable stories or higher | Not required; no structural study mandates apply |
| Waiver of funding | Prohibited for structural integrity items on budgets on or after Dec 31, 2024 | Allowed one year at a time by member vote |
| Qualified preparer | Licensed engineer, architect, CAI Reserve Specialist, or APRA analyst | Not applicable (no SIRS) |
| Minimum funding floor | Baseline cash flow; balance cannot drop below zero | No SIRS baseline rule |
For setting reserve lines in the annual budget, see how to create an HOA budget.
Florida Condo Reserve Requirements Under Chapter 718
Florida Statute § 718.112(2)(g) establishes specific structural integrity reserve study mandates for residential condominium buildings that rise three habitable stories or higher. A Structural Integrity Reserve Study, commonly abbreviated as a SIRS, must be completed at least every 10 years.
The statute defines the specific building components that every condominium SIRS must evaluate:
- Roof.
- Structure (load-bearing walls and primary structural members).
- Fireproofing and fire protection.
- Plumbing.
- Electrical.
- Waterproofing and exterior painting.
- Windows and exterior doors.
- Any other component with a replacement cost over $25,000, adjusted for inflation, whose failure would negatively impact any of the structural elements listed above.
For communities that existed on or before July 1, 2022, the initial SIRS deadline was December 31, 2025. If the association’s milestone inspection was due by December 31, 2026, the SIRS could be done with it, but no later than December 31, 2026 (see Florida milestone inspection).
The statute limits who can conduct or verify the work. A valid study must be performed or verified by a licensed engineer, a licensed architect, a person certified as a reserve specialist by the Community Associations Institute (CAI) or as a professional reserve analyst by the Association of Professional Reserve Analysts (APRA). Associations seeking qualified firms can review best HOA reserve study companies to evaluate credentialed providers.
The funding plan contained in the study must maintain a cash balance above zero dollars throughout the projection period. This minimum standard is known as baseline funding. For more details on baseline models and how they compare against other funding strategies, review our guide to how much should an HOA have in reserves.
Waiver Restrictions and Reserve Pooling Rules
Unit-owner-controlled condo associations that must have a SIRS cannot waive or reduce SIRS-item reserves for budgets adopted on or after December 31, 2024, with limited exceptions.
Florida law allows narrow exceptions to this funding mandate. An association can temporarily pause or reduce contributions for up to two budgets adopted on or before December 31, 2028, after a milestone inspection. Directors can review the qualifications for these temporary pauses in our guide to Florida condo reserve fund relief.
Waiver rules differ for building items that fall outside the structural study. Reserves for non-SIRS items (for example roads) can still be waived or reduced. Waiving or reducing non-SIRS reserves requires the affirmative vote of a majority of the association’s total voting interests.
An association cannot pool SIRS-item reserves with non-SIRS items. For detailed accounting mechanics, see our explanation of HOA reserve fund accounting.
To learn how structural studies are compiled, consult our guide on the structural integrity reserve study.
Florida HOA Reserve Requirements Under Chapter 720
Florida homeowners associations governed by Chapter 720 do not operate under the Structural Integrity Reserve Study requirement. Florida Statute § 720.303(6) states that an HOA annual budget “may include reserve accounts.” By using the word “may,” the Florida Legislature made capital reserve funding voluntary for Chapter 720 HOAs.
Reserves become mandatory for a Florida HOA only after approval by a majority of the total voting interests.
Once reserves are established, members can waive or reduce them one year at a time under § 720.303(6).
If the HOA does not have fully funded reserves, its financial report must include a conspicuous disclosure statement.
If your HOA board wants to plan reserves itself, The HOA Guide’s Reserve Study Builder ($99) lists your components and works out your percent funded (how much of the target balance you have saved) and a 30-year plan. It is not a SIRS and does not meet Florida’s SIRS requirement.
For associations that prefer starting with spreadsheets, this site also offers a free HOA reserve study template and an interactive HOA reserve fund calculator to forecast long-term capital balances. To review how state statutes across the country handle these funds, read our guide to HOA reserve requirements by state.
Deadlines Condo Boards Track
Florida condo boards track these reserve deadlines. Condominiums operating buildings three habitable stories or higher that existed on or before July 1, 2022 were required to complete their structural integrity reserve study by December 31, 2025, or by December 31, 2026 if coordinated with a milestone inspection. The prohibition on waiving or reducing reserves for SIRS items took effect for all budgets adopted on or after December 31, 2024. For a full checklist of administrative requirements, see our Florida condo compliance guide, and review our summary of Florida condo laws 2026 to track legislative updates.
Bottom Line
Florida condos with a SIRS must fund SIRS-item reserves and can’t let owners waive them, apart from limited exceptions. Chapter 720 HOAs have reserves only if the members voted them in, and must put a conspicuous disclosure statement in the financial report when reserves aren’t fully funded. Start by confirming whether your community is governed by Chapter 718 or Chapter 720, then check the budget’s reserve lines against the table above.
This page is general information and is not legal advice. For questions about your governing documents or your state’s laws, speak with a licensed attorney in your state.
Frequently asked questions
What are the Florida condo reserve requirements for 2026?
Under Florida Statute 718, residential condominiums three habitable stories or higher must complete a Structural Integrity Reserve Study (SIRS) at least every 10 years. For budgets adopted on or after December 31, 2024, unit owners cannot vote to waive or reduce reserve contributions for items listed in the study, with limited exceptions, and the funding plan must keep the projected cash balance above zero.
Do Florida HOAs have to maintain reserve accounts?
Under Florida Statute 720, reserves are optional for homeowners associations unless a majority of the total voting interests approves them. If an HOA does not maintain fully funded reserves, the association must include a conspicuous disclosure statement on its financial reports.
Can Florida condo owners vote to waive reserves?
For budgets adopted on or after December 31, 2024, condo owners cannot waive or reduce reserves for items covered by a Structural Integrity Reserve Study, with limited exceptions. Members can still vote by a majority of the total voting interests to waive or reduce reserve funding for non-SIRS items, such as roads.
What items must be included in a Florida condo SIRS?
A Florida condo SIRS must evaluate the roof, structure including load-bearing walls and primary structural members, fireproofing and fire protection systems, plumbing, electrical systems, waterproofing and exterior painting, windows and exterior doors, and any other item with a replacement cost over $25,000 whose failure would harm these components.
Who is legally qualified to perform a Florida condo SIRS?
A Structural Integrity Reserve Study must be performed or verified by a licensed architect, a licensed engineer, a person certified as a Reserve Specialist (RS) by the Community Associations Institute, or a Professional Reserve Analyst (PRA) certified by the Association of Professional Reserve Analysts.
Can a Florida condominium pool its reserve funds?
A Florida condominium association may pool SIRS-item reserves only with other SIRS items, not with reserves for non-SIRS items.
This guide is general information, not legal or financial advice. Your association's governing documents and your state's statute control — confirm specifics with a licensed professional.