Structural Integrity Reserve Study (SIRS)
For the lasting structural safety of your property, our team conducts a thorough analysis and inspection, in order to establish a financial plan with quick turnaround time and peace of mind
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Safeguarding Structural Integrity and Financial Security with Reserve Studies
“Building Assets Resilience And Structural Integrity Through Sound Reserve Planning.”
What is a Structural Integrity Reserve Study (SIRS)?
As structures age, they naturally experience decay and deterioration in their components. To maintain structural integrity and extend a structure’s lifespan, it’s crucial to address these issues through regular inspections and analysis. Ensuring the stability and lifespan of a building doesn’t rest only on the engineer and contractor. As a property owner, it’s essential that the proper resources are in place to ensure the building is properly maintained and cared for. That’s where a Structural Integrity Reserve Study (SIRS) is highly encouraged. Through preliminary property research and on-site inspection, we can evaluate the remaining lifespan of structural components and current reserve funds. A long-term financial plan may then be developed which outlines the necessary funds required for each component. By implementing a reserve study it allows the property owner to prepare financially and have peace of mind, knowing there are resources in place to properly fund the maintenance for preserving property value and structural integrity.
The Souffront Reserve Study Process
Who needs a SIRS done?
For each building in the association that is three stories or higher, a SIRS in required every 10 years.
SIRS is required for associations existing on or before July 1, 2022, that are controlled by non-developer unit owners. SIRS must be completed by December 31, 2024.
Requires a developer to have a structural integrity reserve study completed for each building in the association that is three stories or more in height before turning over control of an association to the non-developer unit owners.
Frequently Asked Questions
No, A structural integrity reserve study varies from your typical reserve study in the sense that it focuses primarily on structural components. These are newly implemented in 2022 following the collapse of Champlain Tower South in Surfside Florida, June 2021.
In the State of Florida, it is now required that condominiums and co-op associations with buildings 3 stories or greater, and properties authorized through local municipal jurisdiction must have a SIRS done.
A databased anaysis of all components that were inspected with their expected remaining useful life. A cost analysis is performed to determine replacement costs, and provide a recommended annual reserve amount that achieves the replacement or deferred maintenance costs.
The deadline is December 31, 2024. There is an exception for buildings turning 30 yrs old between July 1, 2022 and December 31, 2024. These buildings receive a 1 year extension making the deadline December 31, 2025.