Structural Integrity Reserve Study (SIRS)

At PES, we specialize in providing comprehensive Structural Integrity Reserve Study (SIRS) services specifically tailored to meet the needs of condominium and homeowners associations. With the introduction of Florida Statute SB 4D, it is now more important than ever to have a reliable partner who can assist you in reserving funds for the maintenance and necessary replacement of critical structural design elements in your buildings. We understand the potential risks and challenges that associations face when it comes to funding long-term structural integrity, and we are here to guide you through the process.

SIRS Services We Offer

PES offers comprehensive Structural Integrity Reserve Study (SIRS) services tailored to the specific needs of your condominium or homeowners association. Our SIRS includes a detailed examination of the eight critical structural elements, providing you with a comprehensive report that outlines the necessary maintenance and replacement requirements. Our study encompasses:

Roof Systems
Structural systems
Fireproofing and fire safety
Exterior painting and waterproofing
Plumbing
Electrical systems
Windows and exterior doors

SIRS Services We Offer

Roof Systems
Structural systems
Fireproofing and fire safety
Exterior painting and waterproofing
Plumbing
Electrical systems
Windows and exterior doors

How Can PES SIRS Services Benefit Your Association?

By choosing PES for your Structural Integrity Reserve Study (SIRS), you can expect the following benefits:

Expert assessment of critical structural elements

Our experienced team will conduct a thorough examination of the eight essential structural elements that make up a SIRS, including the roof, structural systems, fireproofing and fire safety, exterior painting and waterproofing, plumbing, electrical systems, windows and exterior doors, and other elements over $10,000 that impact the structural integrity of the building. This detailed assessment ensures that you have a clear understanding of the maintenance and replacement needs specific to your property.

Comprehensive reserve study report

We provide a comprehensive report that outlines the necessary maintenance and replacement requirements for each structural element. This report serves as a valuable tool for planning and budgeting, enabling you to allocate funds effectively and ensure the long-term structural integrity of your building.

Compliance with statutory requirements

Florida Statute SB 4D mandates the completion of a SIRS for condominiums and co-ops of three stories or more. Our services are designed to help you meet these regulatory requirements, ensuring that you remain in compliance and protect the interests of your association and its members.

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Who Must Complete a Structural Integrity Reserve Study and Important Deadlines

To comply with Florida Statute SB 4D, a Structural Integrity Reserve Study (SIRS) must be completed for buildings three stories or higher in height every ten years. For associations existing on or before July 1, 2022, controlled by unit owners, the SIRS must be completed by December 31, 2024. This requirement applies to all associations unless they are one or two stories tall or newly formed since July 1, 2022. It is crucial to meet these deadlines to ensure your association remains in compliance with the legislation.

Contact us today to schedule your SIRS and secure the future of your association. Don't wait until it's too late—act now to protect your investment and the well-being of those who call your property home.

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FAQ

Does our current reserve study fulfill the requirements of a structural integrity reserve study?

A reserve study (non-SIRS) may not fulfill the statutory requirements. While Reserve Advisors takes into consideration each of the building components that apply to the structural integrity reserve study, your existing study does not include language specific to the new legislation nor does it include a funding plan specific to the structural integrity components.

Who must complete a Structural Integrity Reserve Study?

A Structural Integrity Reserve Study must be completed for buildings three (3) stories or higher in height every ten years. Associations existing on or before July 1, 2022, controlled by unit owners, must complete the study by December 31, 2024.

Are developers required to perform this study?

Yes, developers are required to perform the Structural Integrity Reserve Study before turning the association over to unit owners.

Who can perform the reserve study?

The reserve study may be performed by any person qualified to conduct such a study. However, the visual inspection portion must be performed by a licensed engineer or architect.

What should the Structural Reserve Study include?

The study must identify the common areas being visually inspected, state the remaining expected useful life and replacement costs, and provide a recommended annual reserve amount that covers the replacement or deferred maintenance costs of the visually inspected elements by the end of their remaining useful life. The amount reserved for an item will be determined based on the most recent structural integrity reserve study.

Can an association waive reserves?

Effective December 31, 2024, association members may not vote to waive reserves, provide less reserves, or use reserves for any purpose other than their intended purpose. This applies to items such as the roof, load-bearing walls or other primary structural members, floor, foundation, fireproofing and fire protection systems, plumbing, electrical systems, waterproofing and exterior painting, windows, and any other items with replacement/repair costs exceeding $10,000 that negatively affect the above items when not replaced or maintained as determined by a licensed engineer or architect.

Will a developer be able to waive reserves?

Developer-controlled associations may not vote to waive reserves or reduce funding of the reserves.

Who could get in trouble if reserves are not collected?

Associations that fail to complete a Structural Integrity Reserve Study may breach the officers' and directors' fiduciary relationship to the unit owners.

Who can receive and review the study?

A copy of the Structural Integrity Reserve Study is considered an official record and must be kept by the association for 15 years. It is open to inspection by association members/authorized representatives.

What happens if we don't comply with conducting our structural integrity reserve study?

Associations that fail to complete a structural integrity reserve study will breach the officers' and directors' fiduciary relationship to the unit owners. Furthermore, delaying the process can lead to underfunded reserves, deferred maintenance, and increasing difficulty getting back on track.