Miami Condo Milestone Inspections And SIRS Explained

What if the condo you love in Miami has an upcoming structural inspection or a reserve study that could change your budget? You are not alone. Many buyers and owners are navigating Florida’s milestone inspections and Structural Integrity Reserve Studies, and it can feel confusing at first. In this guide, you will learn what each report covers, how they affect financing and monthly costs, and exactly which documents to review before you buy. Let’s dive in.

Milestone inspections: what they cover

Milestone inspections are safety-focused reviews for condo and co-op buildings that are three or more stories tall. The goal is to identify structural deterioration, water intrusion, and building envelope issues that could threaten safety.

A licensed structural engineer typically leads the work. The scope often includes a visual survey of columns, beams, slabs, balconies, façades, parking areas, roofs, and points where water can get in. If the engineer sees potential concerns, they may perform limited in-depth testing.

Florida’s law uses age-based triggers for the first inspection, with re-inspections on a set schedule afterward. In practice, many coastal buildings face earlier deadlines. A common pattern is an initial milestone inspection around 30 years for buildings near the coast and about 40 years for others. Always verify your building’s exact trigger and timing with local records.

SIRS: what the reserve study includes

A Structural Integrity Reserve Study is forward-looking. It identifies structural and life-safety components that will need repair or replacement over time, estimates probable costs, and recommends how the association should fund the work.

A SIRS can include low, medium, and high cost scenarios for major items and a funding plan for reserves, assessments, or loans. It is not the same as a full financial reserve study, though both can work together.

Boards must share results with owners and follow local submission requirements. If a report finds significant deficiencies, local building officials can require repairs and set timelines.

Miami-Dade recertification context

Miami-Dade had recertification rules before the statewide updates, including a 40-year recertification program for many multi-story buildings. Those local practices still matter today. In Miami-Dade, a building may have both state milestone inspection obligations and county recertification duties.

Reports are submitted to local building officials, who enforce compliance. They can require corrective action or, in severe cases, occupancy limits until repairs are complete.

Budget impacts for owners

Associations order and pay for the inspections and SIRS, but owners ultimately fund repairs. Costs are covered through existing reserves, special assessments, higher monthly dues, or association loans.

Typical outcomes after a SIRS:

• No immediate major cost: Minor issues, manageable budgets.
• Moderate cost: Multi-hundred-thousand to multi-million dollar projects for mid- to large buildings, which may create material per-unit assessments.
• Major remediation: Large structural or façade projects that can be multi-million dollar efforts over several years.

Exact costs vary by building size, condition, and scope. Do not rely on generic figures. Use your building’s SIRS and any contractor estimates to plan.

Effects on buying, financing, and insurance

When you buy a condo in Miami, inspection reports and a SIRS are often part of your due diligence package. You should request them before you commit.

Lenders look closely at buildings with unresolved structural deficiencies, low reserves, or large planned assessments. Government-backed loan programs also consider project eligibility criteria tied to safety, reserves, and assessment levels. Large unresolved issues can affect your loan approval or add conditions.

Insurance can be impacted, too. If a SIRS highlights systemic water intrusion or corrosion, the association’s property insurance may see higher premiums or changes in coverage.

Timeline and daily life during repairs

Large structural projects can take months or even years. Expect staging, scaffolding, and occasional access limits to certain amenities or areas. Associations plan schedules, coordinate unit access, and manage relocation logistics for short windows when needed. These practical factors can affect quality of life and project cost.

Buyer due diligence checklist

Before you make an offer, request these items from the association or listing side:

1. Milestone inspection report(s) and the Milestone Inspection Certificate filed with the local building official
2. Structural Integrity Reserve Study and any addenda or consultant cost estimates
3. The latest standard reserve study and current reserve fund balance
4. Current annual budget and the last 2–3 years of operating and reserve budgets
5. Board meeting minutes from the last 12–24 months, including special meetings on structural issues
6. Notices to owners about inspection results, repair plans, or expected assessments
7. Details of any approved or pending special assessments and association loans, with repayment terms
8. Contracts, bids, or proposals for planned structural work, with scope, cost, and timelines
9. The association’s master insurance declarations and recent renewal notices
10. Building permit history for major repairs and any open permits or violations
11. Any pending litigation related to structural or construction defects, or insurance claims
12. Owner delinquency rates and collection practices

Reviewing these documents early helps you compare buildings on more than price and finishes. It also lets you confirm the true monthly cost of ownership.

Estimate your potential share

You can estimate your share of a future special assessment with a simple approach:

1. Get the total repair estimate from the SIRS or contractor (total_estimate).
2. Find your unit’s percentage interest in the association (pct).
3. Owner share = total_estimate × pct.

Examples:

• If total_estimate is 2,000,000 dollars and your pct is 0.5 percent (0.005), your estimated share is 10,000 dollars.
• If reserves will cover part of the cost, adjust: owner share = (total_estimate − reserve_balance_allocated) × pct.
• If the association plans to finance work with a loan, convert your share into a projected monthly repayment to understand true affordability.

This quick math helps you compare options and negotiate.

Red flags and negotiation tips

Watch for these red flags:

• Language showing imminent life-safety risks or structural failure
• Large unfunded projects identified in the SIRS and low reserve balances
• Recently approved special assessments or loans that materially raise monthly costs
• High owner delinquency rates that could stress the budget
• Open permits, stop-work orders, or litigation tied to structural issues

Negotiation ideas when reports show big projects:

• Ask for the full set of association documents before you go under contract or add a contingency for association review
• Request a seller credit or an escrow holdback for a known special assessment
• Share the documents with your lender early to confirm project eligibility and any conditions

Verify records and next steps

Confirm the building’s specific inspection timeline and status with local records. Check for:

• The age trigger that applies to your building and how the age is calculated
• Miami-Dade recertification status, including any past findings or open issues
• Whether the milestone inspection and SIRS have been filed with local officials
• Board minutes and budgets that show how repairs will be funded

When needed, consult licensed professionals for engineering, legal, or financial guidance.

Work with a local advisor

If you are comparing two or three Miami condos and struggling to weigh inspection results, reserve balances, and future assessments, you are not alone. A local, bilingual advisor can help you source documents, interpret what matters for financing, and structure a clean offer that protects your goals.

If you want straightforward guidance on Miami and Miami-Dade condos, connect with Maximiliano Ricca. You will get responsive, concierge-level support in English, Spanish, or Italian, plus clear next steps tailored to your budget and timeline.

FAQs

What is a condo milestone inspection in Miami?

• A milestone inspection is a structural safety review for buildings three or more stories tall that checks for deterioration, water intrusion, and other issues that impact structural integrity.

What is a Structural Integrity Reserve Study (SIRS)?

• A SIRS identifies structural and life-safety components that will need repair or replacement, estimates probable costs, and recommends a funding plan for reserves, assessments, or loans.

How do milestone inspections affect condo financing?

• Lenders and loan programs review unresolved structural issues, reserve levels, and planned assessments. Significant problems can affect loan approval or add conditions.

Who pays for repairs after a SIRS in Miami?

• The association orders the studies, but owners fund repairs through reserves, special assessments, higher monthly dues, or association loans.

Can I cancel a purchase if the SIRS shows big issues?

• It depends on your contract and timing. Use inspection and association document contingencies and review all reports before you release them.