Short Answer
Post-Surfside law changed everything: milestone inspections, structural reserve studies, and full funding now shape safety and fees. Review the building, not just the unit.
Naples has more condos than almost any market its size, and since the Surfside collapse, buying one means checking the building, not just the unit. The Florida Building Safety Act, signed into law in 2022, changed the rules for every condominium three stories or taller, and those changes now shape both safety and the monthly fee you will pay. A smart condo buyer reviews the building's documents the way a builder reads a set of plans.
The Milestone Inspection Report
Every condominium or cooperative building three or more stories tall must undergo a milestone structural inspection by a licensed engineer or architect. In coastal areas like Naples, that inspection happens when the building turns 25; farther inland, at 30. After that, the building is re-inspected every 10 years. Ask for the most recent milestone report and confirm it is current for the building's age. The report tells you whether the structure is sound or whether substantial repairs are on the way.
The Structural Integrity Reserve Study
The same law requires a Structural Integrity Reserve Study, or SIRS, every 10 years. The study lays out what the major components, the roof, structure, waterproofing, fire protection, electrical and plumbing, will cost to replace, and it ties those costs to the reserves the association must hold. For budgets adopted after the end of 2024, associations can no longer waive funding those reserves. That is a large part of why condo fees are climbing, and it is why a well-funded building is now a genuine advantage rather than a luxury.
What Changed for 2026
The rules tightened again for the 2026 cycle. The first Structural Integrity Reserve Study was due by the end of 2025, with an extension to December 31, 2026 for associations completing it alongside a milestone inspection due on or before that date. A 2025 law, HB 913, also gave boards more room to act: they can now levy special assessments and take out loans to cover work the milestone inspection or reserve study requires, without a membership vote, and the threshold for treating a component as a reserve item rose to $25,675 for 2026. Budgets that would push assessments more than 115 percent above the prior year must come with a substitute budget for owners to consider, and as of January 1, 2026 the electronic notice requirements that once applied only to large associations now extend to buildings with 25 or more units. The practical effect: a well-run building with current inspections and funded reserves is a stronger purchase than ever, and a building catching up is a bigger risk than ever.
Documents, Fees, and the 7-Day Review
Under Florida's condominium statutes, a buyer under contract is entitled to the declaration, bylaws, rules, budget, and financial statement at the seller's expense, and has the right to cancel within seven days of receiving them. Read them for the things that change your life: rental restrictions, pet rules, flooring limits, and whether the building caps how many units can be leased. Then look at the budget and the reserves, not just the monthly fee. A low fee can hide a building that has not funded what its own study says it needs.
Board Minutes and Special Assessments
Ask to review recent board minutes and financials. Minutes reveal disputes, planned projects, and deferred maintenance that the brochure will not show you. Special assessments are the hidden risk in Florida condos right now, and in some buildings they have run into six figures per unit. Before you commit, know whether an assessment has been approved, whether one is likely coming, and whether the reserves actually cover what the building needs. Unpaid assessments become liens, and a poorly funded building will almost always find a way to bill you.
Insurance, Flood, and the Big Picture
Finally, get the building's insurance picture: what the master policy covers, what you must carry yourself, and whether the building's wind and flood coverage is adequate and affordable. In a coastal market, a building with current inspections and a healthy reserve fund is a very different purchase from one catching up. That is the difference between buying a unit and buying into a building, and it is the difference I help buyers evaluate before they make an offer.
Key Things to Remember
- Post-Surfside law requires milestone structural inspections (age 25 in coastal areas, 30 elsewhere) and re-inspection every 10 years.
- Associations can no longer waive funding the reserves their Structural Integrity Reserve Study identifies.
- Under FS 718.503 you get the condo documents at the seller's expense, with a 7-day right to cancel.
- For 2026, boards can assess or borrow for milestone-required work without a membership vote, and the reserve threshold is $25,675.
- Review board minutes and the budget for special assessments and deferred maintenance.
- Check the master insurance policy, what you must carry, and how the building's health affects your monthly cost.
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