As part of Florida’s new building safety regulations, condominium and co-op associations are now required to conduct a Structural Integrity Reserve Study (SIRS). This is not a safety inspection, but a crucial financial planning tool. A licensed engineer or architect must perform a detailed visual analysis of the building’s core components to estimate their remaining useful life and replacement costs. This study provides a vital roadmap for your association, ensuring that adequate reserve funds are budgeted and collected to cover future capital repairs and replacements, protecting property values and preventing financial crises.
Our SIRS Process: From Inspection to Financial Roadmap
1. Visual Structural Inspection
Our licensed engineers conduct a thorough visual inspection of all items mandated by Florida Statute, assessing their current condition and identifying any visible signs of wear or degradation.
2. Itemizing the Core Components
The study specifically covers the roof, load-bearing walls, floor systems, plumbing, electrical systems, waterproofing, windows, and any other item with a deferred maintenance cost exceeding $10,000.
3. Estimating Remaining Useful Life
For each component, we use our extensive engineering experience to provide a realistic estimate of its remaining useful life, so your association knows when to expect major expenditures.
4. Estimating Replacement Costs
We provide a detailed estimate of the cost to replace or repair each component at the end of its lifecycle. This forms the financial basis of your association’s mandatory reserve funding.
5. Delivering a Compliant SIRS Report
You receive a comprehensive, sealed report that meets all requirements of Florida law. This official document is a mandatory part of your association’s structural and financial records.
6. Empowering Your Association
A professional SIRS provides the data-driven clarity your board needs to set budgets, communicate with owners, and make responsible financial decisions that protect the entire community.
