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Florida condo milestone inspections and reserve studies: what a buyer checks

Under Florida law, a condominium building of three habitable stories or more needs a milestone inspection by 31 December of the year it turns 30 (25 where the local agency requires it, for instance near salt water) and every 10 years after, plus a structural integrity reserve study (SIRS) at least every 10 years; for budgets adopted from 31 December 2024, the reserves for the items in that study can no longer be waived. For a buyer that means two documents to read before signing, a seller who must provide them, and a seven-business-day right to cancel.

Sources: Florida Statutes 553.899, 718.112(2)(f) and (g), and 718.503(2), 2025 edition, read on flsenate.gov on 18 October 2026. Written by a licensed broker, not an attorney: the statute governs.

The law, line by line

Six rules, and what each means for you

Rule	What the statute says	What it means for a buyer
Milestone inspection	Buildings of 3 or more habitable stories, by 31 December of the year they reach 30 years (25 if the local agency requires it), then every 10 years; phase one is a visual examination by a licensed architect or engineer, phase two follows if substantial structural deterioration is found (§ 553.899)	Ask for the inspector's summary. A phase two means repairs are coming
Repairs	After a phase two report, repairs must commence within 365 days of the local agency receiving it (§ 553.899)	A special assessment or a loan is likely within the year
Reserve study (SIRS)	At least every 10 years for buildings of 3 or more habitable stories; associations existing on 1 July 2022 had until 31 December 2025, and never later than 31 December 2026. It covers the roof, structure, fireproofing and fire protection, plumbing, electrical, waterproofing and exterior painting, windows and exterior doors, and any item over $25,000 whose failure would affect them (§ 718.112(2)(g))	Compare the reserves held with the reserves the study requires: the gap is what owners will be asked for
Reserves	For budgets adopted on or after 31 December 2024, reserves for the study's items cannot be waived or reduced; they may be funded by regular or special assessments, or by a line of credit or loan approved by a majority of the voting interests (§ 718.112(2)(f))	A low monthly fee in an older building can mean an assessment ahead
Documents for a buyer	A resale buyer is entitled to the declaration, articles, bylaws and rules, the financial statement and budget, the milestone summary, the most recent SIRS (or a statement that none was completed), the turnover inspection report and the FAQ sheet (§ 718.503(2))	Ask for them at the start of the inspection period, not at closing
Right to cancel	The buyer may cancel within 7 days, excluding weekends and legal holidays, after signing and receiving the documents, unless they were received more than 7 days before signing (§ 718.503(2))	A real exit if the reserve study shows a gap the price does not reflect

How we read it on a listing

Four checks before an offer

The building's age

From the County record: has the 30-year (or 25-year) milestone come due, and when is the next one?

The two reports

The milestone summary and the latest SIRS, from the association: phase two or not, and the funding plan.

The gap

Reserves held against reserves required, divided by the number of units: the order of magnitude of a future assessment.

What is already voted

A special assessment or a loan already approved, read in the estoppel certificate and the minutes, and who pays it at closing.

A building delivered recently is years from its first milestone; its first reserve study is commissioned by the developer-controlled association, which may not waive reserves before turnover either.

Questions we are asked

When does a Florida condo need a milestone inspection?

A condominium or cooperative building of three habitable stories or more needs one by 31 December of the year it reaches 30 years from its certificate of occupancy, or 25 years where the local agency requires it, and every 10 years after (Florida Statute 553.899).

Can a Florida condo association waive its reserves?

Not for the items in the structural integrity reserve study: for budgets adopted on or after 31 December 2024, those reserves cannot be waived or reduced. They can be funded by assessments, or by a line of credit or loan approved by a majority of the voting interests (Florida Statute 718.112(2)(f)).

What documents must a Florida condo seller give the buyer?

The declaration, articles, bylaws and rules, the annual financial statement and budget, the milestone inspection summary, the most recent structural integrity reserve study or a statement that none was completed, the turnover inspection report and the FAQ sheet; the buyer then has 7 business days to cancel (Florida Statute 718.503(2)).

One building checked · 48h

Name the building, we check its milestone and reserves

Send the address or the MLS number. Steve tells you within 48 hours when the milestone falls due, what to ask the association for and what to ask about the reserves before you offer.