Condo Shopping in Central Florida? Check the Building Before You Fall for the Unit

Buyer basics · Condos

In a condo, you're buying into a building and a budget along with your unit. Here's what Florida law requires associations to share, and the questions worth asking.

A condo can be a smart fit in Central Florida. It might be a lock-and-leave place near downtown Orlando, a first home with less yard work, or a seasonal home base. But a condo comes with something a house doesn’t: you share a building, a budget, and a set of rules with everyone else in the association.

Since 2022, Florida has passed major changes to condo safety and reserve laws. For buyers, that’s mostly good news: there’s more information available than ever. You just have to know what to ask for and how to read it.

Start with the building’s age and height

Two Florida laws apply to condo buildings that are three habitable stories or taller:

• Milestone inspection (s. 553.899). A building like this must have a milestone inspection by Dec. 31 of the year it turns 30, measured from its certificate of occupancy, and every 10 years after that. A local building official can move the first one up to year 25 because of local conditions such as nearness to salt water. A licensed architect or engineer does the inspection, which starts with a visual review. A more detailed second phase is required if the first one finds signs of substantial structural deterioration.
• Structural integrity reserve study, or SIRS (s. 718.112(2)(g)). The association needs a SIRS at least every 10 years. It covers the roof, structure, fireproofing and fire protection, plumbing, electrical, waterproofing and exterior painting, and windows and exterior doors. Associations that existed by July 1, 2022 needed their first one by Dec. 31, 2025. If they had a milestone inspection due by the end of 2026, they could do the two together, but in no case later than Dec. 31, 2026.

Some condos, such as one- and two-story garden-style buildings, fall below that height, so these two requirements don’t apply to them. The association still has to budget for reserves under the general rules in s. 718.112, so ask how its reserves are funded.

Read the reserve picture, not just the monthly fee

A low monthly fee isn’t always a bargain. For budgets adopted on or after Dec. 31, 2024, owners in an association that must have a SIRS can’t vote to waive or reduce reserves for the items the SIRS covers. The one exception is a multicondominium with a funding method approved by the state.

The law gives associations other ways to pay for big projects:

• Special assessments, lines of credit, or loans. Each requires a majority vote of the total voting interests.
• A temporary pause. For budgets adopted on or before Dec. 31, 2028, an association that finished a milestone inspection within the past two years can pause or reduce reserve contributions for up to two budgets, with majority approval, to pay for the repairs it recommended.

When you read a budget, look at what the SIRS recommends, what the association is actually setting aside, and whether any special assessments or loans are planned or under discussion.

The documents you’re entitled to

On a resale, s. 718.503(2) entitles the buyer to a current copy of these, at the seller’s expense:

1. The declaration of condominium
2. The articles of incorporation
3. The bylaws and rules
4. The annual financial statement and budget
5. The milestone inspection summary, if one applies
6. The most recent SIRS, or a statement that none has been done
7. The turnover inspection report, for turnovers on or after July 1, 2023
8. The “Frequently Asked Questions and Answers” sheet

You also get a state governance form that explains how the association works.

Under s. 718.503(2)(d), every resale contract has to include one of two clauses. In the first, you acknowledge that you received the documents more than 7 days (not counting weekends and legal holidays) before you signed. In the second, you can cancel in writing within 7 days, not counting weekends and legal holidays, after you sign and receive the documents. Either way, use that time to read. Associations with 25 or more units must also post key documents on a website or app (s. 718.111(12)(g)), so you can often start reading before you even write an offer.

Rental rules: know them before you buy

If you might rent the unit, now or later, read the declaration and rules closely. A condo’s documents can set minimum lease terms, limit how often you can lease in a year, or require board approval of tenants. Under s. 718.110(13), a later amendment that bans rentals or changes the rental terms or frequency applies only to owners who vote for it and to owners who buy after it passes. That protects current owners. As a buyer, you’re bound by whatever’s in effect when you take title.

For vacation rentals, the building has to allow short stays, and the property needs the right local zoning and a state license. Our buyer’s short-term rental verification checklist walks through those steps.

Financing: the lender reviews the building, too

When you finance a condo, the lender looks at the whole project along with you. Fannie Mae’s Selling Guide, for example, lists ineligible projects. They include projects that need critical repairs or have significant deferred maintenance, and projects run like a hotel, with daily rentals, registration desks, or rental-pooling arrangements. For FHA loans, HUD keeps a searchable list of approved condominium projects.

Rules and approvals change, so bring your lender in early and give them the condo questionnaire and documents as soon as you have them. A building that doesn’t qualify for the loan you planned on can mean a different loan, a bigger down payment, or a different condo.

A few more questions to ask

• What does the master insurance policy cover, and what does your own unit-owner (often called HO-6) policy need to cover?
• Are there open violations, lawsuits, or unpaid special assessments? The estoppel certificate shows amounts owed on the unit, and the minutes help fill in the rest.
• What do the fees include? Water, cable, pest control, and amenities vary from building to building. Our guide to the real monthly cost of owning a home in Central Florida shows how to add it all up.

If you’re still deciding between a condo and a house in an HOA community, our HOA vs. CDD explainer covers how those fees work, and insurance-smart house hunting covers the insurance side.

This article is general information, not legal advice. Condo documents and laws are detailed and change often. Review them with your agent, your lender, and a Florida real estate attorney before your review period ends.

Ryan Sager, REALTOR®, LPT Realty · ANEW Collective · FL License #3540605 · (407) 342-6367 · ryan@sagerfl.com