Structural Integrity Reserve Study
Florida Condominium Structural Integrity Reserve Study (SIRS) is an essential tool to assist associations budget for maintenance or replacement of critical building elements deemed integral to the safety of the occupants. The SIRS Study is a comprehensive evaluation performed by a licensed professional to assess the physical condition, financial health, and long-term planning needs of a Condo or Cooperative’s common elements and infrastructure. The SIRS process includes a visual inspection of the building common elements to evaluate the condition and expected remaining useful life. The information from the visual inspection is used to create a component inventory of essential common elements and calculate a recommended funding strategy that provides funding to cover the anticipated expenses.
The SIRS study must be completed every ten years, and the association is responsible for notifying the Department of Business Regulation that the SIRS has been completed.
SIRS ASSESS THE FOLLOWING
Roof
Fireproofing and fire protection systems
Plumbing
Electrical systems
Waterproofing and exterior painting
Windows and exterior doors.
Structure, including load-bearing walls and other primary structural members and primary structural systems.
Any other item that has a deferred maintenance expense or replacement cost that exceeds $10,000 and the failure to replace or maintain such item negatively affects the items listed in subparagraphs a.-I., as determined by the licensed engineer or architect performing the visual inspection portion of the structural integrity reserve study.
