The Future of Trading Automation

An exploration of the future trends in trading automation, including AI integration and increased accessibility.

Sarah Lee
Financial Technology Expert

What is a Structural Integrity Reserve Study (SIRS)?

A Structural Integrity Reserve Study (SIRS) is a comprehensive analysis of the structural elements of multi-story residential buildings, especially condos and co-ops. This study evaluates the condition, remaining lifespan, and replacement costs of major structural components, such as:

The study also includes financial analysis to ensure that associations have enough funds set aside for future repairs and replacements.

Why Florida Now Requires SIRS

Senate Bill 4-D was signed into law in response to growing concerns about the structural safety of aging condominiums and high-rises, especially after the tragic Surfside Condo Collapse in 2021. This law mandates that condos and co-ops with three or more stories perform a SIRS every 10 years to assess the health of their building's structure and ensure timely maintenance funding.

Who Needs a SIRS?

According to Florida Statutes, any condominium or co-op building with three or more stories (or buildings constructed before 1992) must conduct a SIRS. This applies to:

  1. First Inspection Deadline (2024)

    A licensed engineer or architect performs a thorough inspection of the building’s structural elements to determine their current condition and remaining useful life.
  2. Subsequent Inspections

    After the first inspection, the SIRS must be updated every 10 years. This ensures continued safety and compliance over the life of the building.

Critical Deadlines to Know

The law sets important deadlines that boards must comply with:

  1. First Inspection Deadline (2024)

    A licensed engineer or architect performs a thorough inspection of the building’s structural elements to determine their current condition and remaining useful life.
  2. Subsequent Inspections

    After the first inspection, the SIRS must be updated every 10 years. This ensures continued safety and compliance over the life of the building.

What Does a SIRS Include?

A complete SIRS involves two main components:

  • First Inspection Deadline (2024)

    A licensed engineer or architect performs a thorough inspection of the building’s structural elements to determine their current condition and remaining useful life.
  • Subsequent Inspections

    After the first inspection, the SIRS must be updated every 10 years. This ensures continued safety and compliance over the life of the building.

How to Prepare for a SIRS

To ensure a smooth process and meet Florida’s legal requirements, condo associations should:

  • First Inspection Deadline (2024)

    A licensed engineer or architect performs a thorough inspection of the building’s structural elements to determine their current condition and remaining useful life.
  • Subsequent Inspections

    After the first inspection, the SIRS must be updated every 10 years. This ensures continued safety and compliance over the life of the building.

Steal the Playbooks
Other Traders
Don’t Share

Every week, we break down real strategies from traders with 100+ years of combined experience, so you can skip the line and trade without emotion.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.