The Florida legislature has adopted requirements which mandate that Milestone Inspections and Structural Integrity Reserve Study (SIRS). It is important that Condo Associations, condo sellers, and condo buyers understand their obligations to comply with this new legislation.
Milestone Inspections
To comply with the new legislation, the Town of Longboat Key requires that all buildings that are three stories or more, and are at least 30 years old, undergo a milestone inspection every ten years. The inspection must be conducted by a licensed engineer or architect. The milestone inspection must evaluate the building’s structural integrity, including the roof, walls, foundation, and any other components that support the building.
Milestone Inspections must be completed by December 31, 2024 for:
– 3+ story buildings built on/before July 1, 1992
– 3+ story buildings, located within 3 miles of the coastline that were built on/before July 1, 1996
The law requires the Seller at Seller’s expense to provide a copy to the Buyer of the summary inspection report for any completed inspection. A summary inspection report is not required if the Association has not yet completed it and the deadline for the inspection has not expired.
Structural integrity Reserve Study (SIRS)
A Structural Integrity Reserve Study is a detailed assessment of the physical condition of a building or structure, with the goal of identifying any potential issues that could compromise its safety or stability. This type of study is typically conducted by professional engineers or other experts who are trained to evaluate the structural integrity of buildings and other structures.
During the study, the engineers will examine the building’s design, construction materials, and age, as well as any potential environmental factors that could affect its stability, such as earthquakes or severe weather conditions. They will also review the building’s maintenance history and identify any existing issues that need to be addressed.
Based on their findings, the engineers will create a report that outlines any necessary repairs or maintenance that should be performed to ensure the building remains safe and structurally sound. The report will also provide recommendations for ongoing maintenance and monitoring to prevent future issues from arising.
The engineer or architect who conducts the milestone inspection or SIRS must submit a report to the condo association (building owner) and the Town of Longboat Key. The report must include the findings of the inspection or study, as well as any recommended repairs or maintenance.
Condo associations (Building owners) must comply with the findings and recommendations of the milestone inspection and SIRS. If repairs or maintenance are required, the owner must complete them within the specified timeframe.
A Structural Integrity Reserve Study is an essential tool for property owners and managers who are responsible for maintaining the safety and stability of their buildings and structures. By identifying potential issues and developing a proactive maintenance plan, they can help ensure the long-term viability of their investments and protect the health and well-being of the people who use them.
For buildings that are 10 years or older and are used for residential, commercial, or industrial purposes, a Structural Integrity Reserve Study (SIRS) is required every five years. The SIRS must evaluate the structural integrity of the building, identify any potential issues, and provide recommendations for addressing them. The SIRS must also include a reserve study component that evaluates the funding needed to address future maintenance and repair needs.
All existing Associations that have buildings three stories or higher, regardless of age, must complete the SIRS by December 31, 2024. The law requires a Seller at Seller’s expense to provide a copy to the Buyer of the Structural Integrity Reserve Study, or if it has not yet been completed before the deadline date, then a statement must be provided notifying the Buyer that the Study has not yet been completed.
For more information, refer to Florida Statute section 553.899, or call Janet Walter and Steve Walter 941.232.2000 | 941.809.0907