The Dec 31, 2026 Condo Deadline: What to Ask the Board Before You Buy on Siesta Key or Longboat Key

I grew up in Sarasota. I've watched buildings along Midnight Pass Road and Gulf of Mexico Drive get re-roofed, re-painted and, sometimes, hit owners with a special assessment nobody saw coming.

So here's the free version of what I tell every condo buyer: the paperwork is the property. The view is the same in every unit facing the Gulf. The reserve study isn't.

And one date matters right now: December 31, 2026.

What actually happens on December 31, 2026

After the 2021 Surfside collapse, Florida created two separate requirements for condo buildings that are three or more habitable stories tall:

Milestone inspection (MI): a structural inspection by a licensed architect or engineer. It's due by Dec 31 of the year a building turns 30, based on its certificate of occupancy, and every 10 years after that. A local building department can move the first one up to age 25 if local conditions, such as proximity to salt water, call for it. (Fla. Stat. 553.899)
Structural Integrity Reserve Study (SIRS): a budget study of eight structural components: roof, structure, fireproofing and fire protection, plumbing, electrical, waterproofing and exterior painting, windows and exterior doors, plus any other item over $25,000 (inflation-adjusted) whose failure would affect those components. It must be repeated at least every 10 years. (Fla. Stat. 718.112(2)(g))

For owner-controlled associations that existed on or before July 1, 2022, the first SIRS was due Dec 31, 2025. The statute gave one group extra time: associations that owed a milestone inspection on or before Dec 31, 2026 could complete the SIRS together with that inspection. Then the law closes the door: "In no event may the structural integrity reserve study be completed after December 31, 2026."

To be precise: this isn't a new deadline for every building. It's the last stop for the first SIRS cycle. If a building on your shortlist is relying on the combined option, it has about 60 days left. If it was due in 2025 and still doesn't have a SIRS, it's already late.

One honest caveat: the statute also lets an association that completed a milestone inspection delay its SIRS for up to two budget years so it can pay for repairs first. How that provision interacts with the "in no event" language for a specific building is a question for the association's attorney, not your agent. If a board cites it, ask for that position in writing.

Why a buyer should care: the inspection and the study answer different questions

A milestone inspection tells you whether the structure is sound today. A SIRS tells you whether the association has saved enough to keep it that way, with a remaining-useful-life estimate, a replacement cost and a recommended yearly reserve for each component.

A building can pass its inspection and still be underfunded. On the barrier islands, where salt air works on concrete, rebar and window systems every day, that gap is where special assessments come from.

The money rule changed too. According to DBPR, associations whose budget was adopted on or after Jan 1, 2025 cannot waive SIRS reserves. Associations that adopted their budget earlier could vote to waive or reduce them for that budget, but had to start funding by Jan 1, 2026. Translation: "we voted to skip reserves again" is over for structural items. Somebody pays to catch up, and if you buy, that's you.

The market context: Sarasota condo sales are up

In Q3 2026, Sarasota County condo and townhome sales rose 26.8% year over year, median price rose 6.4% to $324,380, and 60.9% of buyers paid cash, according to RASM. Inventory fell 12% to 1,601 units, or 4.9 months of supply.

High cash share means fewer lenders asking hard questions about the building. That job falls to you and your agent.

9 questions to ask the board (or the listing agent) before you write an offer

Is the SIRS complete, and on what date? Ask for the full study, not a summary.
Was it reported to the state? Associations must submit SIRS completion to DBPR within 45 days. You can search the public SIRS Reporting Database yourself.
If the SIRS isn't done, is the building relying on the combined milestone option, and what's the signed engineer contract date?
When was the milestone inspection due and completed? Did it require Phase 2? Phase 2 means substantial structural deterioration was found, and repairs must start within 365 days of the report.
Who is the building department? Siesta Key condos generally fall under Sarasota County. All of Longboat Key, including the Manatee County side, falls under the Town of Longboat Key. Ask whether that office assigned a 25-year or 30-year schedule. Don't assume.
Does the current budget fully fund the SIRS reserve schedule? Compare the budget's reserve line to the study's recommended annual amount.
Are special assessments, a loan or a line of credit planned or under discussion? The SIRS has to be updated to reflect the chosen funding method, so ask for the updated version.
Can I see the last 24 months of board minutes? That's where assessment talk shows up before it's voted on.
Did any engineer or contractor who bid on repairs also do the inspection or the study? Florida requires written disclosure of those relationships.

What Florida law already gives you as a buyer

You don't have to beg for most of this. Under Fla. Stat. 718.503(2), a resale buyer is entitled, at the seller's expense, to the association's most recent SIRS or a statement that it hasn't been completed, plus the inspector-prepared summary of the milestone inspection where applicable. Contracts entered into after Dec 31, 2024 must disclose in conspicuous type whether the required inspection or study has been completed. If you weren't given those documents more than 7 days (excluding weekends and legal holidays) before signing, you can void the contract by written notice within 7 such days after you receive them. That right ends at closing.

FAQ

Does every Siesta Key or Longboat Key condo need a SIRS?
No. It applies to residential condo buildings three or more habitable stories tall. Buildings under three stories, and one- to four-family dwellings with three or fewer habitable stories, are exempt.

Is Dec 31, 2026 the deadline for all condos?
No. The general first-cycle SIRS deadline was Dec 31, 2025. Dec 31, 2026 is the outer limit for associations that combined the SIRS with a milestone inspection due by that date.

If a building passed its milestone inspection, is the reserve funding fine?
Not necessarily. The inspection checks the structure's current condition. The SIRS checks whether the money exists to maintain it.

Can I check a building's SIRS status online?
Yes. DBPR publishes a SIRS Reporting Database of associations that have reported completion. It only shows complete submissions, so a missing building means "ask," not automatically "noncompliant."

Do new buildings have to worry about this?
Eventually. A SIRS is required at least every 10 years after the condo's creation, and a developer must provide a turnover inspection report before handing control to owners.

The bottom line

Two condos on the same beach at the same price can carry very different futures. The difference is in the SIRS, the milestone report and the minutes. Get them early, and price the building, not just the unit.

If you're looking at a specific building on Siesta Key or Longboat Key, send it to me. I'll pull what's public and tell you exactly what to ask for. Let's connect.

This article is general information, not legal, tax or financial advice. Consult a Florida attorney or other qualified professional about a specific building or contract.

Keith Curcio, Associate Broker, Coldwell Banker Realty

Sources

Florida DBPR, Division of Condominiums, Inspections: Milestone Inspections & SIRS: https://condos.myfloridalicense.com/inspections/
Florida DBPR, SIRS Reporting and Database: https://www2.myfloridalicense.com/condos-timeshares-mobile-homes/condominiums-and-cooperatives-sirs-reporting/
Fla. Stat. 718.112(2)(g) (2026), Structural integrity reserve study: https://www.flsenate.gov/Laws/Statutes/2026/718.112
Fla. Stat. 718.503(2) (2026), Nondeveloper (resale) disclosure: https://www.flsenate.gov/Laws/Statutes/2026/718.503
Fla. Stat. 553.899 (2026), Mandatory structural (milestone) inspections: https://www.flsenate.gov/Laws/Statutes/2026/553.899
Town of Longboat Key, Building Recertification (Milestone Reports): https://www.longboatkey.org/209/Building-Recertification-Milestone-Repor
Sarasota County, Building — Milestone Inspections: https://www.scgov.net/residents/permits-license-and-tax/building-permits
REALTOR® Association of Sarasota and Manatee, Q3 2026 Market Report: https://www.myrasm.com/q3-2026