What Florida HOAs Need to Know About Milestone Inspections and SIRS
The Collapse That Changed Florida Law
On June 24, 2021, the partial collapse of Champlain Towers South in Surfside, Florida, left 98 people dead and exposed systemic flaws in how aging condominium buildings are inspected and maintained. Investigators uncovered significant structural deterioration and long-deferred repairs—largely due to insufficient reserves and poor planning.
This tragedy prompted the Florida Legislature to act swiftly, leading to the passage of Senate Bill 4‑D (SB 4‑D) in May 2022—ushering in a new era of oversight and financial accountability for condominium and cooperative associations.
What Is a Milestone Inspection?
Milestone Inspections are mandatory structural inspections designed to ensure the ongoing safety of older residential buildings.
Who Needs It
Condos or co-ops that are 3 or more stories tall, and
30 years old (or 25 years if located within 3 miles of the coast)
What It Includes
Phase 1: Visual inspection by a licensed engineer or architect
Phase 2: Triggered if signs of substantial structural issues are found (may include material testing or destructive inspection)
Key Deadline
If your building’s Certificate of Occupancy was issued on or before July 1, 1992, your Milestone Inspection must be completed by December 31, 2024.
What Is a SIRS?
A Structural Integrity Reserve Study (SIRS) is a specialized financial and structural study focused on evaluating the physical condition and estimated replacement cost of critical building components.
Components Covered
Roof
Load-bearing walls
Floors and foundation
Fire protection systems
Electrical and plumbing
Windows and waterproofing
No More Waiving Reserves
Starting in 2025, Florida law prohibits associations from waiving or underfunding reserves for these essential components.
Initial Deadline
Most affected associations must complete their first SIRS by December 31, 2024.
How This Affects Your HOA
These new mandates dramatically impact how associations plan and fund capital projects:
Inspections and reserve studies are now required by law
Boards face potential liability for noncompliance
Underfunded reserves are no longer acceptable
Special assessments and loans are increasingly necessary
Many communities must now choose between special assessments or external financing.
What You Should Do Next
Confirm your building’s eligibility (height, age, and coastal proximity)
Hire a licensed professional to perform the Milestone Inspection and SIRS
Review your current reserve funding and projected costs
Communicate with unit owners about the legal and financial responsibilities
Explore financing if your community cannot fully fund the required repairs or reserve contributions
How SAMTOV FINANCE LLC Can Help
We provide fast, flexible loans to Florida HOAs and condo associations—especially those who are struggling to meet the new financial demands of SB 4‑D.
Our Loans Are Ideal For
Milestone inspection and SIRS costs
Structural repairs and contractor payments
Reserve fund replenishment
Insurance premium bridging
Emergency or time-sensitive capital projects
Why Associations Choose Us
Approvals in as fast as 24 hours
Loans from $50,000
We work with high-delinquency or low-reserve communities that banks often turn away
Protect Your Community. Plan for the Future.
If your board needs help navigating this new reality, SAMTOV FINANCE LLC is here to support you. We offer the capital you need—when you need it.
📞 [754-249-1908]
📧 [info@samtov.com]
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