If you're shopping for a condo in Southwest Florida this fall, you've probably heard the acronyms: SIRS, milestone inspection, reserves. They come from Florida's post-Surfside condo reforms, and they now shape how every condo purchase in Naples, Estero and Bonita Springs should be evaluated. The good news is that the rules give buyers more information than they've ever had. You just need to know where to look.

Here is a plain-English guide from our team at Sky Coastal Realty. If you're still deciding between a condo and a house, start with our comparison of condos vs. single-family homes in Naples.

Why condo due diligence matters more right now

The condo market has been moving at a different pace than single-family homes. In our Fall 2026 market update, condos under $1 million in Collier County averaged about 142 days on market and sold near 95% of list price, with Lee County condos at roughly 153 days. That gives buyers time to do their homework and room to negotiate.

Florida Realtors chief economist Brad O'Connor told Naples Press that central Naples condo sales rose 55%, which he attributed to associations completing milestone inspections and addressing reserve funding. In other words, buyers are returning where associations have done the work. Condo prices overall remain below earlier highs, according to the same report.

First, the two terms you need to know

Milestone inspections

According to the Florida Department of Business and Professional Regulation (DBPR), condominium buildings with three or more habitable stories need a milestone inspection at 30 years from the certificate of occupancy, then every 10 years. A local enforcement agency can set the first inspection at 25 years. Phase 1 is a visual assessment; Phase 2 happens only if Phase 1 finds substantial structural deterioration.

Associations must give owners a summary of the inspection report within 45 days of receiving it, and if the association has a website, the full report and summary must be posted there.

Structural Integrity Reserve Studies (SIRS)

A SIRS is a reserve study performed by a qualified engineer, architect or reserve specialist, required at least every 10 years for buildings of three or more habitable stories. It covers items such as the roof, structure, fireproofing, plumbing, electrical, waterproofing and exterior painting, and windows and exterior doors, and it includes a funding schedule designed so the reserve account never drops to zero.

Timing matters: DBPR lists a December 31, 2026 deadline for associations whose SIRS is done alongside a milestone inspection, and associations adopting budgets on or after January 1, 2025 cannot waive SIRS reserve funding. Expect more associations to be finalizing studies, and possibly adjusting dues, over the coming weeks.

What a SIRS can mean for your monthly costs

Funding a reserve schedule may require higher regular assessments, a special assessment, or a loan or line of credit, according to DBPR. A low HOA fee isn't automatically a bargain if reserves are thin. A higher fee in a well-funded building can be the better value.

Your pre-offer condo checklist

Ask your agent to request these before you finalize an offer (or use your contract's review period):

  1. The SIRS and its funding schedule. Is it complete? Is the association following the funding plan?
  2. The milestone inspection summary (if the building is old enough) and any Phase 2 findings, plus repair timelines. Repairs for structural deficiencies must begin within 365 days of the report under DBPR's rules.
  3. Current budget and reserve balances. Compare to the SIRS schedule.
  4. Pending or planned special assessments, loans, or lines of credit.
  5. Recent board meeting minutes. Look for discussion of roof, windows, waterproofing, or insurance.
  6. Rental and pet rules. These affect resale and your lifestyle.
  7. Insurance details on the master policy and what your unit policy needs to cover. Get a quote early.

You can also check whether an association has filed its SIRS through DBPR's SIRS Reporting Database, and verify an inspector's license with DBPR's License Verification Tool.

Newer buildings vs. older buildings

Newer buildings in Estero and Bonita Springs generally won't hit the first milestone inspection for years, but SIRS requirements still apply to buildings of three or more stories. Older buildings with completed inspections and funded reserves can offer certainty; older buildings without them offer negotiating leverage but more risk. Neither is "good" or "bad" by default. The documents tell the story.

A word on financing

Lenders review condo associations too, including budgets, reserves, and pending assessments. Getting your lender involved early avoids surprises, and Freddie Mac's chief economist notes that comparing multiple mortgage quotes can save buyers thousands over the life of a loan.

Talk to a local team

Every building is different, and the paperwork is where the real answers are. If you're considering a condo in Naples, Estero or Bonita Springs, our team will help you request the right documents and read them with you before you commit.

Call Sky Coastal Realty at (239) 745-8903 — buyers and sellers welcome.

This article is general information, not legal, financial or engineering advice. Confirm requirements with the association, your attorney and DBPR.