Structural Integrity Reserve Study
A study of the reserve funds required for future major repairs and replacement based on a visual inspection of the common areas
Study must include 10 components, “at a minimum”: 1. Roof 2. Load bearing walls or other primary structural members 3. Floor 4. Foundation 5. Fireproofing & fire protection systems 6. Plumbing 7. Electrical systems 8. Waterproofing & exterior painting 9. Windows 10. Any other item with a deferred
Visual inspection must be performed by a FL licensed architect or engineer; reserve study may be performed by any person qualified to perform such study Estimates the remaining useful life and replacement cost or deferred maintenance expense; provides a recommended annual reserve amount to cover the estimated cost by the end of the useful life Currently applies to buildings 3 stories or more; initial study must be completed by 12/31/2024, then at least every 10 years thereafter May adjust reserve assessments annually to take into account any changes in the cost estimates or extension of the useful life of a reserve item caused by deferred maintenance
maintenance cost that exceeds $10,000 and failure to replace or maintain the item negatively affects the items above Each condo is responsible for all costs associated with the reserve study.
7 (2/8/2023)
Made with FlippingBook - Online Brochure Maker