A Licensed Community Association Manager (CAM) is often the person who catches a reserve gap months before a board does, because tracking funding schedules against statutory deadlines is part of the job. At Synergistic Community Association Management, that oversight runs across every Homeowners Association (HOA) and Condominium Owners Association (COA) we manage throughout Florida.
Highlights
- Florida treats Homeowners Association (HOA) reserves and Condominium Owners Association (COA) reserves differently under state law.
- Condominium buildings three stories or higher must complete a Structural Integrity Reserve Study (SIRS) and repeat it every 10 years; Chapter 720 sets no comparable mandate for HOAs.
- HOAs that establish reserve accounts still must calculate funding based on each item’s remaining useful life and current replacement cost under FS 720.303(6).
- Skipping a required study risks regulatory exposure for condominiums and unfunded special assessments for both HOAs and COAs.
- A Licensed Community Association Manager keeps reserve deadlines, funding schedules, and board disclosures on track year over year.
HOAs work under a different statutory standard
Chapter 720 does not require Florida HOAs to commission a professional reserve study. Once a board establishes reserve accounts, FS 720.303(6) requires that funding reflect the actual remaining useful life and current replacement cost of each item, not a number carried over from last year’s budget with a small bump added. Owners can still vote annually to waive or reduce funding, and plenty do. Skipping the study leaves next year’s budget resting on a guess rather than a number, and that guess tends to surface at the worst possible moment, right after a roof or a lift station fails. Chapter 720 won’t cite the board for that. The homeowners still cover the shortfall.
Condominiums face a much stricter clock
Buildings three stories or higher fall under Chapter 718’s Structural Integrity Reserve Study requirement. Most existing associations had to complete their initial SIRS by December 31, 2025, with a narrow extension to December 31, 2026 for associations pairing the study with a milestone inspection. A new SIRS is due at least every 10 years after that. Budgets adopted on or after December 31, 2024 can no longer waive funding for the eight structural components a SIRS covers, and boards no longer get an annual vote to reduce that number.
What happens when a board skips one
A missed SIRS puts a condominium out of compliance with a state reporting requirement, and lenders and insurers have both grown sharper about checking for it before extending financing or writing a policy. HOAs face no regulator at the door, but underfunded reserves tend to arrive as a special assessment homeowners didn’t see coming, timed with whatever repair the board deferred one budget cycle too long.
Looking for a community association management partner in Florida?
Synergistic Community Association Management is a certified woman-owned firm serving Homeowners Associations, Condominium Owners Associations, and master associations throughout Florida. Board members deal with one person, not a rotating call center queue, and concerns are acknowledged, if not addressed, within 24 hours. Liz Welch built the firm on a Midwestern work ethic, which in practice means somebody answers when a treasurer calls about a reserve number that doesn’t look right, and that kind of coverage gives owners and boards of directors peace of mind. Need help reading a reserve study, figuring out a SIRS deadline, or want a second opinion before the next budget vote? Reach out.
Other insightful content is available at synergisticcam.com.
Liz Welch, Licensed Community Association Manager, Broker and Owner
Phone: 813-940-8588
Email: hello@synergisticcam.com
Office: 4511 N. Himes Ave., Suite 125, Tampa, FL 33614
Synergistic CAM manages communities throughout Florida.
