Florida's New Condo Law Is Now in Full Effect. What Every Miami Buyer Needs to Know.
If you are buying a condo in Miami — or anywhere in Florida — the most important piece of legislation affecting your purchase went into full mandatory effect on January 1, 2026. Most buyers don't know it exists. Many of the buildings they're considering are not yet in compliance with it.
Here is what happened and why it matters.
Following the 2021 Champlain Towers collapse in Surfside, Florida, which killed 98 people due to structural failure driven in part by severely underfunded building reserves, Florida enacted sweeping condo safety legislation. The law, and its subsequent updates, created three core requirements for condominium buildings three stories or higher: mandatory structural inspections known as Milestone Inspections, Structural Integrity Reserve Studies (SIRS), and mandatory reserve funding for structural components.
The SIRS deadline was December 31, 2025. Mandatory reserve funding began January 1, 2026. Critically, associations can no longer waive or reduce these reserves by owner vote — a practice that had been common for decades and that allowed buildings to defer maintenance expenses by spreading them among future owners. That mechanism is gone.
What a SIRS actually is and why it matters to you as a buyer
A Structural Integrity Reserve Study is a detailed engineering assessment of a building's structural components and a financial analysis of how much money must be set aside annually to fund their repair or replacement. It covers the components that matter most to building safety: roof, load-bearing walls, floor systems, foundation, and waterproofing systems, among others.
Before January 2026, many Florida condo associations had been operating for years with reserve funds far below what their buildings actually required. The new law forces an accounting. And industry estimates suggest that more than half of eligible Florida buildings had not completed their SIRS as of early 2026.
What this means to your Miami real estate deal
A building that missed the SIRS deadline and has not complied with mandatory reserve funding requirements is a red flag — not just from a safety standpoint, but from a financing and resale standpoint. Non-compliant buildings can face financing restrictions from major lenders, accelerated assessment timelines as required structural work is funded, and penalties. Fannie Mae and Freddie Mac have their own overlapping requirements that can affect whether a lender will finance a unit in a non-compliant building.
Before making any offer on a Miami condo, request and review: the building's SIRS completion status and report, the most recent milestone inspection report if the building is 25 or more years old and within three miles of the coast, the current reserve fund balance relative to the SIRS recommendations, and any pending or recently completed special assessments.
Buyers now have a 7-day rescission period — up from 3 days under the previous law — to review these documents after receiving them. Use all seven days. A knowledgeable local agent will review this documentation as a standard part of due diligence, not as an afterthought.
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