Florida Condo Reserve Funding Adequacy Calculator (SIRS)

How this calculator works

Florida's post-Surfside reserve regime is the binding constraint on every condominium of three or more habitable stories in the state. F.S. § 718.112(2)(g) — added by SB 4-D (2022) and refined by SB 154 (2023) — mandates a Structural Integrity Reserve Study (SIRS) performed by a licensed engineer or architect, and § 718.112(2)(f)2., effective December 31, 2024, requires that the components identified in the SIRS be fully funded. The membership-vote-to-waive-reserves mechanism that governed condo reserves for decades no longer applies to SIRS line items.

The calculator returns four numbers that matter to board members, managers, and unit owners on the day after a SIRS report lands:

1. The required per-unit annual contribution to fully fund the SIRS components over their weighted-average remaining useful life. This is the straight-line full-funding rate that every reserve study in Florida produces by default.
2. The shortfall between that required contribution and what owners are currently paying.
3. The funded percentage today, balance divided by replacement cost.
4. The special-assessment exposure: if a SIRS component requires replacement at year L and the reserve is still short of full funding, what does the gap look like spread across the unit base?

The math is intentionally straight-line. Pooled-reserve studies and component-method studies converge on the same total-funding math; the pooling method just permits a different per-component allocation policy. The calculator preserves the methodology label so a board-packet exhibit downstream can use it without ambiguity.

The SIRS components

The statute specifies the categories the study must address. They are:

1. Roof — including any decking, sheathing, and underlayment. Typical remaining useful life: 15–25 years for tile and metal, 10–18 years for built-up or modified-bitumen flat roofs.
2. Structure — load-bearing walls, primary structural members, primary structural systems. Replacement is rare but catastrophic; the planning need is for the inspection, repair, and re-shoring budget rather than full replacement.
3. Fireproofing and fire-protection systems — passive fireproofing, sprinklers, standpipes, smoke detection, fire alarms.
4. Plumbing — supply mains, drain-waste-vent systems, riser stacks, common-area fixtures. Typical remaining useful life: 30–50 years for cast iron, 50+ years for copper, depending on water chemistry.
5. Electrical systems — primary service equipment, distribution panels, riser systems, common-area lighting.
6. Waterproofing and exterior painting — exterior caulking, sealants, balcony / deck waterproofing, exterior paint. Typical remaining useful life: 5–10 years for paint cycles, 12–20 years for waterproofing membranes.
7. Windows and exterior doors — frames, hardware, weatherstripping, glazing. Typical remaining useful life: 20–40 years.

Plus, per § 718.103(26), any other deferred-maintenance or replacement item with a cost of $10,000 or more whose failure would negatively affect any of the above. This catch-all sweeps in items like cooling-tower service, pool re-marciting, parking-deck waterproofing, generator overhaul, and similar.

A worked example

A 100-unit oceanfront condominium has completed its SIRS and the totals look like this: roof $1.2M, structure $800K, fireproofing $200K, plumbing $1.4M, electrical $600K, waterproofing $500K, windows $300K. Total: $5.0M, weighted-average remaining life 20 years. The board's reserve account holds $1.0M today. Owners are paying $2,000/year/unit into reserves.

The calculator returns:

• Required annual contribution per unit: $2,000 — exactly what owners are paying.
• Per-unit shortfall: $0 — the association is on track.
• Funded percentage today: 20%.
• Years to fully funded at the current rate: 20 years — matches the weighted-average life, which is the correct full-funding horizon.
• Special-assessment exposure per unit: $0 if the components last their full useful life.
• SIRS compliance status: On track (SIRS-compliant).

Now imagine the same building with the same SIRS report and the same balance, but owners are paying $1,000/year/unit instead. The calculator returns:

• Required: $2,000/unit. Current: $1,000/unit. Shortfall: $1,000/unit/year.
• Years to fully funded at the current rate: 40 years — twice the remaining life. The association will not catch up before the components require replacement.
• Special-assessment exposure per unit: $20,000 — that is the dollar amount each owner is implicitly absorbing the risk of, today, by underfunding reserves.
• SIRS compliance status: Underfunded (SIRS non-compliant).

The board has three options at this point: raise the per-unit reserve contribution to close the shortfall, levy a special assessment now to bring the reserve to full funding, or restructure the SIRS schedule with the engineer if the original assumptions are no longer accurate. Doing nothing is no longer a statutory option for the SIRS line items.

What the calculator does not do

This calculator is a planning tool. It does not:

• Substitute for a SIRS. The statute requires the study to be performed by a licensed engineer, architect, or RS-credentialed reserve specialist. The numbers you enter come from that study; the calculator computes the funding math, not the engineering inputs.
• Account for inflation on replacement costs. A SIRS that was current on January 1, 2024 is already meaningfully understated by January 1, 2027 in most Florida construction markets. Refresh the SIRS at the statutory three-year cadence (more often if local construction-cost indexes have moved materially), or inflate the replacement-cost input above before computing.
• Distinguish between SIRS items and non-SIRS reserves under § 718.112(2)(f). Non-SIRS reserves (e.g., elevator overhaul if it isn't tied to a SIRS category, or routine deferred maintenance below the $10,000 threshold) can still be partially funded by membership vote. The post-12/31/2024 mandate applies only to SIRS items.
• Apply to condo cooperatives under Chapter 719. § 719.106(1)(j) carries its own reserve provisions; the same math is useful as a planning estimate, but the statutory verdict differs. Verify against your cooperative's governing documents.
• Tell you how to allocate among SIRS components. Pooling vs component method is a board-level decision (with engineer input). The calculator returns the same totals regardless; downstream allocation work is a reserve-specialist deliverable.

How this page is maintained

The 12/31/2024 full-funding mandate is the binding constraint and is unlikely to move without a legislative reversal. The SIRS components list in § 718.103(26) was last revised by SB 154 (2023); we monitor every legislative session for further refinements. If the Florida legislature moves the SIRS scope, the SIRS cadence, or the full-funding cutoff, this page is updated and re-stamped within the quarter.

Last reviewed: 2026-05-14 against F.S. § 718.112(2)(f), § 718.112(2)(g), § 718.103(26); SB 4-D (2022); SB 154 (2023).