Are you a condo or HOA board member or property manager in Florida? We know the immense pressure you are under. Between rising premiums and tight budgets, leading an association is no easy task. Since we are now well into 2026, the pressure to comply with Structural Integrity Reserve Study (SIRS) funding requirements—along with heightened Fannie Mae and Freddie Mac lending standards—is higher than ever.
Following the expiration of the initial December 31, 2025 deadlines and the recent adjustments under HB 913, there is still a common misconception that only a licensed engineer can conduct the site inspection and prepare your reserve study report.
But is that actually true? Let's clear up the confusion, look at what the law really requires, and explore why a credentialed Reserve Specialist (RS) or Professional Reserve Analyst (PRA) is your most strategic choice.
The Law: Who Can Legally Perform a SIRS?
You might be surprised to learn that Florida law does not force you to use an engineer for your SIRS. According to Chapter 718 (Condominiums) and Chapter 720 (HOAs) of the Florida Statutes, a SIRS can be legally completed by:
- Licensed Engineers
- Licensed Architects
- Certified Reserve Specialists (RS) or Professional Reserve Analysts (PRA)
The Felten Property Assessment Team (FPAT) officially holds the elite credentials of both Certified Reserve Specialists (RS) and Professional Reserve Analysts (PRA). This means our highly trained team is 100% legally compliant and perfectly qualified to perform your study.
Why Choose FPAT Over Overloaded Engineering Firms?
Engineers are wonderful at designing and building safe structures. However, a reserve study is not a structural safety test—it is a forward-looking financial planning tool. It is about estimating future costs and creating a solid funding plan so you avoid devastating special assessments. That requires a deep understanding of how much things cost to fix or replace over time, which is exactly what our RS and PRA experts do best.
Here is why choosing FPAT is the smartest decision for your Condo Reserve Study in Miami, Tampa, St. Pete, and Fort Lauderdale:
- Laser Focus on Costs, Not Just Concrete: Engineers focus on structural loads. As credentialed RSs and PRAs, we focus on financial reality. We specialize in realistic Florida construction life-cycle projections and accurate replacement costs.
- Experience Matters: We didn’t enter the reserve study industry because of recent SIRS legislation. FPAT has been performing reserve studies for over 20 years. Decades of real-world reserve study experience and funding expertise provide far greater value than a recently graduated engineer with limited financial forecasting experience.
- Faster Turnarounds: Right now in 2026, Florida engineering firms are completely overwhelmed with other mandatory structural inspections. Because we focus specifically on financial reserve planning, we can offer rapid service to keep you compliant without the stressful wait.
- Cost-Effective Solutions: You do not need to pay top-tier engineering rates for a financial forecasting report. Using an RS/PRA team is generally much more budget-friendly for your association.
- Statutory Compliance 2026: We know Florida Statutes inside and out. We ensure your financial plan aligns perfectly with all state rules and the crucial 2026 funding milestones.
Integrating Insurance Appraisals: Total Protection
Whether you manage a high-rise in Miami, a beachfront condo in Fort Lauderdale, or a community in Tampa or St. Pete, local knowledge matters. A proper SIRS Florida report means you need experts who understand local legislation, weather impacts, and regional building costs.
But compliance doesn't stop at reserves. Are you adequately insured?
Under Florida Statute 718.111(11), condo associations must obtain an independent Insurance Appraisal every 36 months to determine the precise Replacement Cost Valuation (RCV). In today's volatile 2026 insurance market, relying on Actual Cash Value (ACV) or outdated appraisals can trigger massive co-insurance penalties or policy non-renewals. Furthermore, coastal properties must navigate the complex FEMA 50% Rule, making accurate valuations the difference between a standard repair and a mandatory total rebuild.
FPAT handles both your SIRS and your Insurance Appraisals, giving your board a single, unified solution for statutory compliance and risk management.
Need to move quickly to stay compliant?
Don't wait on an overloaded engineering firm—secure your association's financial future today. Request your Fast 24-Hour Proposal Turnaround here!
People Also Ask (PAA) Corner: 2026 Florida Compliance
What is the deadline for Florida SIRS in 2026?
The initial deadline for completing a SIRS was December 31, 2025 (as extended by HB 913). In 2026, the focus has shifted entirely to strict enforcement. If your association has not completed its SIRS and aligned its 2026 budget to fund the mandated structural components, you are currently in statutory breach.
Can a Florida condo board waive reserves after HB 913?
No. The grace period is over. As of 2026, Florida condo boards can no longer vote to waive or underfund reserves for the specific structural components mandated in a SIRS. While HB 913 introduced minor funding flexibility (such as using approved lines of credit or loans), the legal requirement to fully fund these structural elements remains absolute.
How often must an insurance appraisal be updated in Florida?
Florida Statute mandates that condominium associations update their insurance appraisals to determine Replacement Cost Valuation at least once every 36 months. However, due to rapid inflation and strict insurance underwriting in 2026, many carriers now demand updates every 12 to 24 months to prevent co-insurance penalties and maintain coverage.
