Florida Condo Association Disclosure | Post-Surfside Requirements

Key Information

Florida condo sales involve layered disclosure requirements under Florida Statutes § 718.503 (the Florida Condominium Act) — including HOA financial statements, governing documents, current assessments, and, since 2023, mandatory Structural Integrity Reserve Study (SIRS) disclosures for condos in buildings three stories or taller. Florida Senate Bill 4-D (2022) and Senate Bill 154 (2023), enacted in response to the Champlain Towers South collapse in Surfside (June 2021), significantly expanded inspection, reserve funding, and disclosure requirements for Florida condominiums. Buyers of Florida condos now have a right to association financial statements, reserve fund status, SIRS findings, and milestone inspection reports. BuildMyListing generates Florida condo association disclosure documentation for listing agents.

Pricing: Starting $99/month

Time Required: Florida condo disclosure documentation in minutes

The Problem

Florida condo disclosure law changed significantly after the Champlain Towers South collapse in Surfside in June 2021. Agents listing Florida condos who still use pre-2022 disclosure processes are missing mandatory SIRS disclosures, milestone inspection requirements, and reserve adequacy transparency requirements — exposing sellers and agents to liability and failing buyers who need this information to make an informed purchase.

The Solution

BuildMyListing generates Florida condo association disclosure documentation that covers the post-Surfside changes: Florida Statutes § 718.503 package requirements, SIRS disclosure (for 3+ story buildings), milestone inspection status, reserve fund adequacy, and any pending special assessments — all in a format appropriate for listing disclosure and buyer delivery.

Key Features

Florida § 718.503 Disclosure Package Framework

Generate the complete Florida condo disclosure framework under § 718.503: HOA financial statements (current year), governing documents (declaration, bylaws, house rules), current monthly fee breakdown, reserve fund balance, and pending or approved special assessments.

Benefit: § 718.503 disclosure requirements documented — nothing omitted

Post-Surfside SIRS Disclosure Documentation

For buildings three stories or taller, generate SIRS disclosure documentation per Florida Statutes § 718.112(2)(g) (as amended by SB 4-D, 2022 and SB 154, 2023): SIRS completion status, key findings, reserve funding adequacy determination, and funding plan status.

Benefit: Post-Surfside structural reserve disclosure — the material condition buyers demand after 2021

Milestone Inspection Status Documentation

Document milestone inspection status per Florida Statutes § 553.899 (as amended): whether the building has completed Phase 1 (visual inspection at 30 years, or 25 years if within 3 miles of coastline) and Phase 2 (engineering inspection if Phase 1 identifies concerns), and any findings.

Benefit: Structural inspection status disclosed — buyers understand building condition

Special Assessment and Reserve Disclosure

Document all pending and approved special assessments, current reserve fund balance vs. reserve study recommendation, and whether the association has voted to waive or reduce reserve funding (which buyers must be informed of).

Benefit: Special assessment and reserve underfunding disclosed before offer stage

How It Works

Enter Condo Association Financial and Structural Details

Input monthly HOA fee breakdown, reserve fund balance, SIRS completion status (if building is 3+ stories), milestone inspection status, any pending assessments, and governing documents availability.

Generate Florida Condo Disclosure Documentation

BuildMyListing generates the disclosure framework covering § 718.503 package requirements, SIRS status, milestone inspection summary, special assessment disclosure, and reserve fund adequacy transparency.

Download Disclosure Package for Buyer Delivery

Download the complete Florida condo disclosure package — formatted for delivery to buyers per § 718.503 requirements, with listing copy that transparently addresses post-Surfside material conditions.

Compliance Reference

Disclosure Item	Legal Basis	Building Type	Buyer Recission Right
HOA financial statements (current year)	Fla. Stat. § 718.503(1)	All condominiums	3 days after receipt
Governing documents (declaration, bylaws, rules)	Fla. Stat. § 718.503(1)	All condominiums	3 days after receipt
Reserve fund balance and funding plan	Fla. Stat. § 718.503(1)	All condominiums	3 days after receipt
Special assessments (pending or approved)	Fla. Stat. § 718.503(1)	All condominiums	3 days after receipt
SIRS (Structural Integrity Reserve Study)	Fla. Stat. § 718.112(2)(g) (SB 4-D 2022; SB 154 2023)	3+ story buildings	3 days after receipt
Milestone inspection report	Fla. Stat. § 553.899 (SB 4-D 2022)	30+ year buildings (25 near coast)	3 days after receipt

Common Use Cases

High-Rise Condo — Post-Surfside SIRS Required

Scenario: Seller listing a unit in a 12-story beachfront condo built in 1995. Building is subject to 25-year coastal milestone inspection (2020) and SIRS requirement (completed 2023). SIRS found $2.1M reserve shortfall. Special assessment of $28,000 per unit approved, payable over 3 years.

Process: Input building age, SIRS completion, reserve shortfall, and special assessment details → BuildMyListing generates § 718.503 disclosure including SIRS summary, $28,000 special assessment disclosure, and reserve underfunding documentation → Listing copy notes 'see disclosure package for condo association financials and structural reserve study' → Buyer 3-day recission right documented

Compliance: Florida Statutes § 718.503 and § 718.112(2)(g) disclosures generated — post-Surfside SIRS and special assessment transparently documented before offer stage

Mid-Rise Condo — Reserve Waiver Disclosure

Scenario: 4-story condo built in 2005. Association has been waiving reserve funding for 5 years. Current reserve balance: $12,000 against a recommended $180,000. No SIRS required yet (building is 19 years old). Milestone inspection Phase 1 due in 11 years.

Process: Input association financials, reserve waiver history, current balance → BuildMyListing generates reserve underfunding disclosure and waiver history → § 718.503 governing documents disclosure framework generated → Buyers informed of reserve status before proceeding

Compliance: Reserve fund deficiency and waiver history disclosed — buyers informed of potential future special assessment risk

Frequently Asked Questions

What changed in Florida condo disclosure requirements after Surfside?

The Champlain Towers South collapse in Surfside, Florida (June 24, 2021) killed 98 people and triggered significant changes to Florida condo law. Florida Senate Bill 4-D (enacted May 2022) and Senate Bill 154 (enacted June 2023) amended Florida Statutes Chapter 718 to require: (1) Milestone inspections for all condominium buildings 3+ stories by December 31, 2024 (30-year threshold, 25 years within 3 miles of coastline); (2) Structural Integrity Reserve Studies (SIRS) for all condominium buildings 3+ stories by December 31, 2024; (3) Mandatory full reserve funding for structural items identified in SIRS (associations can no longer waive these specific reserves); (4) Enhanced financial reporting and disclosure to unit owners. These changes represent the most significant expansion of Florida condo law in decades.

What is a Structural Integrity Reserve Study (SIRS) and what must be disclosed?

A Structural Integrity Reserve Study (SIRS) is a study of the structural components of a condominium building conducted by licensed engineers to assess the condition of structural integrity components and determine required reserve funding. Under Florida Statutes § 718.112(2)(g) (as amended), SIRS must cover: roof, load-bearing walls, foundation, floor, fireproofing and fire protection systems, plumbing, electrical systems, waterproofing and exterior painting, windows, and any other item with a deferred maintenance or replacement cost exceeding $10,000. SIRS findings and reserve adequacy must be disclosed to prospective buyers under § 718.503. If a building's SIRS reveals a reserve shortfall, that shortfall — and any resulting special assessment — is material information buyers must have.

What is the buyer's rescission right under Florida Statutes § 718.503?

Florida Statutes § 718.503(1) gives condominium buyers a 3-day right of rescission after receipt of the association's disclosure materials — governing documents, most recent financial statements, reserve fund balance, and SIRS/milestone inspection information. The 3-day period runs from the later of: contract execution or receipt of all required documents. Buyers who rescind within the 3-day period are entitled to a full deposit refund. Sellers who fail to deliver the required disclosure materials extend the rescission period — exposing them to indefinite rescission rights. This is why complete and timely disclosure is critical in Florida condo transactions.

What is the Florida milestone inspection and when is it required?

Florida's milestone inspection requirement (Florida Statutes § 553.899, as amended by SB 4-D) requires a Phase 1 visual structural inspection of all condominium and cooperative buildings 3+ stories by a licensed architect or engineer: at 30 years of age (25 years if within 3 miles of the coastline), and every 10 years thereafter. If Phase 1 identifies possible structural concerns, Phase 2 requires a more detailed investigation including testing. Buildings that fail to complete Phase 1 by the required date face local enforcement actions. Milestone inspection reports must be maintained by the association and disclosed to prospective buyers.

Must a special assessment always be disclosed in a Florida condo sale?

Yes. Any approved or pending special assessment is a material condition that must be disclosed to buyers. Under Florida Statutes § 718.503, buyers receive the association's most recent financial statements and have the right to review meeting minutes that would reflect special assessment approvals or discussions. A special assessment that the seller knows about but does not disclose is a material misrepresentation. In the post-Surfside environment, SIRS-driven special assessments ranging from $20,000 to $100,000+ per unit have become a significant issue in Florida condo sales — these must be disclosed fully and accurately.

Does the Florida condo disclosure requirement apply to new construction condos?

New construction condos in Florida are subject to different disclosure requirements through the Florida condominium offering plan process administered by the Florida Division of Condominiums. Developers must file a condominium prospectus (offering circular) with the Division and provide it to buyers before contract execution. Buyers of new construction condos have a 15-day recission right after receipt of the prospectus. The post-Surfside SIRS and milestone inspection requirements apply to existing buildings — new construction meeting current building codes is not immediately subject to the milestone inspection trigger, though SIRS obligations will apply when the building reaches the inspection age threshold.

BuildMyListing provides condo disclosure documentation — does it provide legal advice on Florida condominium law?

No. BuildMyListing generates disclosure documentation based on information the agent provides. It does not interpret Florida condominium statutes, assess SIRS adequacy, advise on reserve waiver legality, or provide legal guidance on association liability. Florida condo law is complex and has changed significantly since 2022 — consult a licensed Florida real estate attorney for questions about specific disclosure obligations, SIRS compliance, and buyer rescission rights. BuildMyListing provides compliance documentation tools, not legal advice.

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Florida Condo Association Disclosure — Post-Surfside Requirements for Listing Agents