STRUCTURAL INTEGRITY RESERVE STUDY (SIRS)

Structural Integrity Reserve Study is now required to be reported by a design professional, such as a Professional Engineer. This structural reserve study identifies the budget reserves needed to maintain the building structure safe and the waterproofing performing adequately for the next ten years. It includes all items that require more than $10,000 in reserves to replace/repair during the next repair cycle. On buildings that may require concrete restoration, it will be more accurate to conduct the study after Phase 2 below.

PHASE 1: STRUCTURAL INTEGRITY RESERVE INSPECTION:

The visual inspection report signed and sealed by a licensed engineer wil state the estimated remaining useful life, and the estimated replacement cost of any item with a deferred maintenance or replacement cost that exceeds $10,000.

The report wil include the folowing:

• Roofs
• Load bearing walls
• Primary structural members as defined in s.627.706.
• Floors
• Foundations
• Fireproofing & fire protection systems
• Plumbing
• Electrical systems
• Waterproofing & exterior painting
• Windows and exterior doors
• Ancillary structures such as swimming pools, pool/plaza deck, seawall and parking garage

PHASE 2: STRUCTURAL INTEGRITY RESERVE STUDY:

The reserve study to allocate funds cash flow based on the licensed engineer inspection report can be done by others.

If a client requires RAS Engineering to produce it, will calculate the required funds based on the remaining life stated in the report and linear distributed on a 10-years horizon, disclosing the cost per unit owner.

After Reserves Study is complete, the property manager will be instrumental to manage the funds. Here are some of the largest condominium property management companies operating in South Florida:

FirstService Residential

• Overview: FirstService Residential is one of the largest property management companies in North America, managing thousands of condominium and homeowners’ associations, particularly in South Florida.

• Specialty: They specialize in managing high-rise condominiums and large residential communities, providing full-service management including maintenance, financial oversight, and administrative support.

• Reputation: They are well-established in Miami, Fort Lauderdale, and across Florida.

KW Property Management & Consulting

• Overview: KW is a leading full-service property management firm headquartered in Miami, managing more than 100,000 residential units across Florida.

• Specialty: They are known for managing luxury high-rise condominiums and master-planned communities, offering services like compliance management, accounting, and maintenance.

• Reputation: KW is frequently cited as one of the largest and most respected condominium management companies in South Florida.

Castle Group

• Overview: Castle Group is another major player in South Florida’s property management industry. With a focus on serving homeowners’ and condominium associations, they manage several prominent condo communities in the region.

• Specialty: They offer a comprehensive suite of services, including property management, financial oversight, and maintenance solutions for large condominium complexes.

• Reputation: Castle Group is well-regarded for its technology-driven management solutions and customer service.

Seacrest Services

• Overview: Based in South Florida, Seacrest Services provides property management to condominiums and HOAs, offering services that include maintenance, landscaping, and financial management.

• Specialty: They have a strong focus on condominium associations, particularly in Palm Beach and Broward counties .

Associa

• Overview: Associa is a national property management firm with a strong presence in Florida. They manage numerous condominium associations throughout the state.

• Specialty: Their services include maintenance, financial services, legal compliance, and day-to-day property operations for large residential communities, including condominiums.

• Reputation: Associa is known for its robust infrastructure and wide reach in managing condominium and HOA communities.

These companies were short listed from AI and RAS doesn’t recommend any specific company. We reccomend to the stakeholders do the due diligence on the selection of a management company and specically the licensed Propery Manager LCAM proposed.