What a reserve study includes (and what Florida requires)

Components, funding plans, and the difference between a traditional reserve study and a condo SIRS in Florida.

General information for Florida associations. This isn't legal advice. Check your governing documents and ask your association's attorney about your situation. Last reviewed October 2026.

A reserve study is a long-range plan for the big, predictable expenses: roofs, paving, pool resurfacing, painting, clubhouse systems, gates. It has two parts.

1. Physical analysis

A component inventory of what the association must maintain.
Condition assessment, ideally with a site visit.
Useful life and remaining life for each component.
Current replacement cost estimates.

2. Financial analysis

The current reserve balance compared with what's needed (often called "percent funded").
A funding plan: recommended annual contributions over a 20–30 year horizon.
The funding method, for example component (straight-line) or pooled (cash-flow). Ask the preparer to explain which they used and why.

Florida HOAs (Chapter 720)

For HOAs, reserves are covered by section 720.303(6), Florida Statutes. Whether reserves are required depends on how the association's reserve accounts were established, and the financial report must include specific disclosures if reserves aren't fully funded. Many HOAs commission a reserve study anyway, so their budgets rest on real numbers.

Florida condominiums: SIRS

Condominium and cooperative associations with buildings three or more stories must also have a Structural Integrity Reserve Study (SIRS) covering specified structural components, under section 718.112, Florida Statutes. DBPR's condominium division publishes guidance and FAQs at condos.myfloridalicense.com.

Questions to ask a reserve study firm

Who signs the study, and what credentials do they hold (for example, a Reserve Specialist or Professional Reserve Analyst designation, or a professional engineer license)?
Is this a full study with a site visit, or an update without one?
Which funding method do you use, and will you show more than one funding scenario?
How often should it be updated, and is there a multi-year update price?
Can we see a sample report?