Top 10 Things You Should Know About Milestone Inspections in Florida
Here are the top 10 things you should know about SB-4D milestone inspections and reserve studies:
SB-4D, also known as the Building Safety Act, was passed in May 2022 in response to the Champlain Towers South condominium collapse in Surfside.
The law establishes a statewide inspection program for condominium and cooperative associations with three or more stories in height.
The program requires two types of inspections: milestone inspections and visual inspections.
Milestone inspections are structural inspections of buildings performed by a licensed architect or engineer. They are required when the building reaches:
25 years of age, based on the date the certificate of occupancy for the building was issued; or
30 years of age, based on the date the certificate of occupancy for the building was issued, if the local enforcement agency determines that local circumstances, such as proximity to salt water, require a more frequent inspection.
Visual inspections are reviews of the building's exterior, interior, and common areas that should be conducted by a qualified professional every year.
The milestone inspection and visual inspection reports must be submitted to the local enforcement agency and to all unit owners and renters.
If an association fails to have the required inspections performed, they may be subject to fines or other penalties.
Reserve studies are analyses of a condominium or cooperative association's financial condition and the estimated costs of future repairs and replacements. They are typically performed by a qualified engineer or architect and must be updated every 10 years.
The reserve study must include the following information:
The estimated remaining useful life of the building's major components.
The estimated cost of repairs and replacements for each major component.
The amount of money that the association needs to set aside each year to fund the repairs and replacements.
The reserve study must be submitted to the local enforcement agency and to all unit owners and renters.