Avoiding Special Assessments: A Guide for Florida Condos
Living in a Florida condo offers many perks, but special assessments—unexpected fees for major repairs or budget shortfalls—can strain owners financially. This guide explores how condo associations can avoid these costs, ensuring stability and peace of mind. For professional assistance, explore our reserve study services. What are Special Assessments? Florida’s properties face distinct challenges that […]
Case Study: How FPAT Helped a Tampa Condo Meet SIRS Compliance
Felten Property Assessment Team (FPAT) has become a trusted partner for Tampa condominiums navigatingFlorida’s stringent Structural Integrity Reserve Study (SIRS) requirements. This case study explores how FPATassisted Sunset Towers, a 10-story Tampa condo, in achieving SIRS compliance under Senate Bill 4-D, ensuringstructural safety and financial stability. From inspections to funding plans, FPAT’s expertise delivered peace […]
Financial Planning for HOAs: The Role of Reserve Studies
Homeowners Associations (HOAs) face unique financial challenges, from maintaining community amenities toensuring long-term property value. Effective financial planning is essential to avoid unexpected costs and keepresidents satisfied. At the heart of this process lies the reserve study—a powerful tool that helps HOAs budgetfor future repairs and replacements. This guide explores how reserve studies drive financial […]
How Hurricanes Affect Reserve Study Planning in Florida
Florida’s sun-soaked beaches and vibrant communities come with a significant challenge: hurricanes. As the most hurricane-prone state in the U.S., Florida faces frequent storms that threaten property and financial stability for Homeowners Associations (HOAs) and condominium associations. Reserve studies—essential planning tools for budgeting repairs and replacements of common property elements like roofs, windows, and structural […]
Understanding SIRS Reserve Requirements in Florida: Your Essential Guide
As a condo board member or property manager in Florida, you’re tasked with the vital responsibility of keeping your building safe and financially secure—noble work that protects your community. Yet, navigating complex regulations and the ever-present threat of storms can feel overwhelming. That’s where Structural Integrity Reserve Studies (SIRS) become essential. Mandated by Florida law […]