Every Florida condo resale contract now has to state, in conspicuous language, whether the building's required inspection and reserve study documents are complete. The buyer's seven-day cancellation window doesn't begin until those documents are in hand. In Orlando, whether a building owes those documents at all comes down to one physical fact: whether it has three habitable stories.
That one threshold shapes more of an Orlando condo deal than the statewide headlines suggest. It determines whether a building falls under milestone structural inspections, whether its association has to complete a Structural Integrity Reserve Study, and whether owners can vote to skip funding reserves for the building's structure. A two-story garden-style complex and a downtown tower can carry the same "condo" label on the listing and be governed by very different rules.
The Cancellation Clock Runs on Paperwork
When a unit owner sells a Florida condo, Section 718.503 of the Florida Statutes entitles the buyer to a defined set of documents.
- The association's current governing documents, plus its financial statement and budget.
- The milestone inspection summary prepared by the inspector, if one applies.
- The most recent Structural Integrity Reserve Study, known as a SIRS, or a statement that it has not been completed.
- A turnover inspection report, where one applies.
- The frequently asked questions and answers document and the governance form.
The buyer can cancel in writing within seven days, not counting Saturdays, Sundays or legal holidays, after both signing the contract and receiving the applicable inspection and SIRS materials. The statute also lets a buyer request a closing extension of up to seven days after receipt.
So when a SIRS shows up late, the seven-day window opens late too. For a seller, a closing timeline depends on how quickly the association can produce its reports. For a buyer, those documents are the first real look at what the building expects to spend on its roof, structure and waterproofing over the coming years.
Where the Third Story Comes In
The SIRS requirement applies to each building three stories or higher. According to the Florida House staff analysis of HB 913, it does not apply to buildings under three stories, to single-, two- or three-family dwellings with three or fewer habitable stories, or to building components the association does not maintain. Milestone inspections under Section 553.899 use the same three-habitable-story line.
| Under three stories | Three or more habitable stories | |
|---|---|---|
| Milestone structural inspection | Not required | Generally by age 30 and every 10 years after, or age 25 where a local agency sets it |
| SIRS | Not required | At least every 10 years |
| Reserves for structural items | General reserve rules for roofs, painting, paving and items over $25,000, adjusted annually for inflation | No waiving or underfunding SIRS-listed items in budgets adopted on or after December 31, 2024, except a limited pause |
| Resale disclosure | Statement that the study does not apply | Milestone summary and latest SIRS, or a statement that they are incomplete |
Associations in buildings of any height still have to have and fund reserves for roof replacement, building painting, pavement resurfacing and other large items. HB 913 raised the dollar threshold for those other items from $10,000 to $25,000, with annual inflation increases. The post-Surfside ban on waiving reserves is tied to the SIRS, and two-story buildings sit outside it.
What the Reserve Rule Changes Inside a Covered Building
A SIRS has to cover the roof, the structure and load-bearing walls, fireproofing and fire protection, plumbing, electrical, waterproofing and exterior painting, and windows and exterior doors. It also covers any other item above the $25,000 threshold whose failure would affect those systems. Its funding schedule then drives the reserve line in the association's budget.
In a covered building, owners generally cannot waive or underfund reserves for SIRS-listed items in budgets adopted on or after December 31, 2024. HB 913, generally effective July 1, 2025, added a limited exception. A unit-owner-controlled association that completed a milestone inspection within the previous two years can, with approval from a majority of the total voting interests, pause or reduce reserve contributions to fund repairs that inspection recommends. The pause can last no more than two consecutive annual budgets, applies to budgets adopted on or before December 31, 2028, and requires a new SIRS before contributions resume.
December 31, 2026 is the date to watch this fall. Associations with a milestone inspection due by that date can complete the SIRS alongside it, and the statute sets December 31, 2026 as the outer limit for that combined route. HB 913 also lets associations that have completed their milestone inspection delay the SIRS for the two consecutive budget years after it, so they can put money toward the repairs the inspection requires. In a tower contract written this quarter, the document that controls the cancellation window may still be in progress at the association.
Orlando Is Inland, and the State's Own Numbers Show It
Florida's first statewide milestone inspection report came from the Office of Program Policy Analysis and Government Accountability in July 2026. It counted 8,736 completed phase one inspections and 1,575 completed phase two inspections for 2024 and 2025 combined. The heavy work was concentrated on the coast. In 2025, 98% of required phase two inspections were for buildings in coastal counties and municipalities, and 94% of initial-deadline extensions went to coastal jurisdictions.
For 2025, the OPPAGA report lists one building in Orange County as deemed unsafe or uninhabitable, compared with 23 in Miami-Dade. WKMG News 6 reported that the average repair permit tied to phase two findings was $337,229 in 2024 and $496,236 in 2025. That station also reported that 93% of 2024 permit applications and all 2025 applications were for coastal buildings.
These counts come with a caveat. OPPAGA received 2024 data from 71% of local jurisdictions and 2025 data from 64%, so the statewide picture is incomplete. Even so, Orange County's numbers are a long way from the coastal figures behind most condo crisis coverage.
The Orlando Condo Median Is Slipping Anyway
A smaller inland repair burden hasn't kept the metro's condo prices steady. In August 2026, the Orlando Regional REALTOR® Association reported a median of $301,071 for condos and townhouses, down from $309,493 in August 2025, on 549 sales compared with 553 a year earlier. Over the same period, the single-family median edged up to $436,456 from $435,069. ORRA notes these figures reflect data available as of September 14, 2026 and may be revised.
Florida Realtors' August 2026 metro summary covers Lake, Orange, Osceola and Seminole counties. It reports a $300,000 townhouse and condo median, down 3.2% year over year, on 700 sales, down 5.1%. ORRA's area includes Volusia County, so the two series don't match exactly. Neither one separates condos from townhouses, and neither explains why prices moved. The September figures are scheduled for release on October 16, 2026.
The building-by-building rules help explain why one metro median says so little about a specific unit. A median that blends exempt low-rises, covered towers and townhouses can't show what a particular building's SIRS funding schedule will add to its budget. That figure sits in the building's own SIRS.
Exemption From the Study Is Not Exemption From Repairs
The safety law is one way an association ends up with a large bill. Plain upkeep is another. In August 2026, WKMG reported that Orange County's Division of Building Safety had cited life-safety code concerns at The Plaza Condominiums. The Plaza Condominium Association said it had already hired a structural engineer, approved a special assessment, and started structural repairs. In a September 1 follow-up, the station reported that the association did not yet know whether the assessment would be enough or what the final repairs would cost.
The reporting does not tie The Plaza's situation to a milestone inspection or a SIRS. A special assessment can come from code enforcement and maintenance whether or not a building sits above the three-story line. In an exempt building, the financial statement, the budget and the association's records on recent assessments carry that information.
Checking a Building's Status in the City of Orlando
Inside city limits, the City of Orlando sends certified letters to associations when a milestone inspection is due. It requires the report within 180 days of receipt unless a statutory deadline applies, and it gives 365 days to pull a repair permit after a report is submitted. The city assigns a case number and reviews Phase One reports within five business days. Status can be tracked through Permit Lookup.
In unincorporated Orange County, the Division of Building Safety's Fast Track Online Services lets users search building permits by permit number, address or parcel ID. Under state law, associations must send owners a milestone summary within 45 days. Phase two structural repairs must begin within 365 days of the report. The full report and summary must be posted on the association's website when it's required to have one.
FAQ
Does a two-story Orlando condo need a SIRS? No. The SIRS requirement doesn't apply to buildings under three stories, though general reserve requirements for items like roofs and paving still apply.
What happens if the SIRS isn't finished when the contract is signed? The contract has to state conspicuously whether the required materials are complete. The resale buyer's seven-day cancellation period runs from receipt of the applicable inspection and SIRS materials.
Did the 2026 legislative session change the condo safety rules? The 2026 reviser's bill made technical cross-reference corrections to Sections 718.112 and 718.503. It didn't change the milestone and SIRS framework itself.
If you're weighing an Orlando condo, the first question is how many stories the building has, and the second is what its SIRS and budget say. Eileen Winfrey reads those documents line by line before the cancellation clock runs out, and as a pit bull with a smile, she negotiates with whatever they turn up. Call or schedule a free consultation and bring the building address.
This article is general information, not legal, tax or financial advice. Consult a qualified professional about your situation.
