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Own Luxury Homes® FL Condo Surfside Reform Compliance Index™
Own Luxury Homes® FL Condo Surfside Reform Compliance Index™: 98 deaths in Champlain Towers South collapse triggered FL SB-4D (2022) + SB-154 (2023). All FL condos 3 stories+ required: Structural Integrity Reserve Study (SIRS) by Dec 31, 2024; milestone inspection by Dec 31, 2024 (25 years coastal, 30 years inland). 100% reserve funding now mandatory for SIRS structural components — no more waivers. Buyers must obtain: SIRS report, milestone certificate, reserve percent-funded figure, 24-month board minutes. Own Luxury Homes® 12-Point Agent Integrity Audit™.
Own Luxury Homes® FL Condo Surfside Reform Compliance Index™
The June 24, 2021 collapse of Champlain Towers South in Surfside — 98 deaths, the deadliest U.S. building failure in decades — triggered the most significant restructuring of Florida condo law in history. SB-4D (2022) and SB-154 (2023) created mandatory Structural Integrity Reserve Studies (SIRS) and milestone inspections for all FL condos 3 stories or taller. For buyers, these laws created a new, non-negotiable due diligence requirement: understanding a building’s compliance status before making any offer.
01 — The Reform Framework: SB-4D (2022) and SB-154 (2023)
| Requirement | Who It Applies To | Deadline | What It Means for Buyers |
|---|---|---|---|
| Milestone Structural Inspection | All FL condos 3 stories or taller, 30+ years old (25 years if within 3 miles of coast) | Phase 1 by Dec 31, 2024; Phase 2 if Phase 1 finds concerns | Buildings without a completed milestone inspection cannot legally certify habitability to lenders; affects financing on some buildings |
| Structural Integrity Reserve Study (SIRS) | All FL condo associations, 3 stories or taller | Must be completed by Dec 31, 2024; updated every 10 years | SIRS identifies all structural reserve components and calculates full-funding amounts; buyers can see exactly what’s underfunded |
| No more reserve waivers | All FL condo associations for SIRS-covered structural components | Effective Dec 31, 2024 | Associations that previously waived reserve contributions must now fund at 100%; this is driving special assessments and monthly fee increases |
| Capital expenditure vote threshold | All FL condo associations | Effective 2023 | Changes to how special assessments and capital expenditures are approved; buyers should review meeting minutes for pending votes |
| Structural component funding | All FL condo associations | Starting Jan 1, 2025: must be on path to full funding per SIRS | Monthly assessment increases are mandatory where reserves are below 100% of SIRS-calculated amounts; buyers inherit this trajectory |
02 — Buyer Due Diligence Protocol: Post-Reform
1. Completed SIRS Report (Structural Integrity Reserve Study): the engineering study identifying all structural components, their remaining useful life, and fully funded reserve amounts. If the association cannot provide a completed SIRS, this is a red flag.
2. Milestone Inspection Certificate (Phase 1 and Phase 2 if applicable): confirms the building passed the structural milestone inspection or documents what repairs are required.
3. Current Reserve Fund Balance vs. SIRS-Required Amount: the percent-funded figure. 100% = fully funded (rare in older FL condos); below 70% = likely special assessment risk; below 40% = high probability of significant near-term assessment.
4. Board Meeting Minutes (last 24 months): pending special assessment votes, contractor bids for structural repairs, insurance renewal difficulties, and any unresolved engineering issues are disclosed in minutes before they become public.
5. Association Financial Statements: operating fund vs. reserve fund; operating budget deficit; any pending litigation against the association (construction defect claims are common and material).
Brown, Ryan. “Own Luxury Homes® FL Condo Surfside Reform Compliance Index™.” Own Luxury Homes®. https://www.ownluxuryhomes.com/markets/florida/research-indices/florida-condo-surfside-reform-indexMedia: ownluxuryhomes.com/connect · 407-900-7030
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— Ryan Brown, Principal Broker & CEO, Own Luxury Homes® (FL License BK3626873)