Reserve studies that keep special assessments off the agenda
A reserve study doesn’t just list future costs. It sets a minimum, stable level of funding so your association can pay for roofs, paving, elevators, pools, and other capital projects when they come due, without scrambling for a special assessment. The board gets a budget it can explain to owners.
Prepared by Margery J. Schultz, founder
Inspecting buildings since 2008 · 2,000+ reports
What is a reserve study?
A reserve study is an inventory of every major component an association maintains, such as roofs, paving, pools and elevators, with the remaining useful life and replacement cost of each. It turns those figures into a funding plan with a recommended annual reserve contribution the board adopts with its budget.
Does an HOA need a reserve study?
Florida HOAs aren't subject to the condominium SIRS law, but a reserve study is the standard way to budget for shared components. Many governing documents, lenders, and managers expect one, and it gives the board a defensible number for the annual reserve contribution instead of a guess.
How is it different from a SIRS?
A SIRS covers only the eight structural and life-safety categories for condo and co-op buildings with three or more floors people live or work on. A full reserve study covers every component the association maintains. Many Florida condominiums need both, often combined in one engagement.
| SIRS | Full reserve study | |
|---|---|---|
| Scope | Eight statutory components | Every maintained component |
| Required by | Florida condominium / co-op statute | Governing documents, lenders, best practice |
| Applies to | Buildings with 3+ floors people live or work on | Any association |
| Reserves | Cannot be waived or reduced | Set through the budget and governing documents |
Questions about your association’s numbers? Request a proposal or call (727) 204-6000.
How often should a reserve study be updated?
A common best practice is an update with a site visit every few years and a desk review in between, so costs and conditions stay current. The SIRS portion of a Florida condominium’s study must be redone at least every 10 years.
What your board receives
Every study ends in a signed report your board can use for its budget.
Component inventory
Every component the association maintains, with quantity, condition, and useful life.
Remaining useful life
For each component, based on the visual inspection.
Replacement cost
By building, with the assumptions documented.
Funding plan
A recommended annual reserve contribution the board adopts with its budget.
A draft to review
The board and manager review a draft, with a walkthrough call.
Final signed report
Ready for your budget and for state reporting where required.
Cost and timing
Every proposal is a fixed fee with a scope and schedule.
Tell us your deadline when you ask for a proposal.
Running a California HOA? See California reserve studies →
