South Florida Condo Risk Index
A South Florida condo's real cost is its price plus the capital work its association has not yet paid for. This index is the six-factor score we run before we let a client write an offer: reserve funding, SIRS status, milestone inspection, assessment history, insurance and the age of the building envelope. A building only receives a published score when we hold the documents that support it — we do not score a building from its listing photos or its reputation.
Published · Updated · Data cutoff
The six factors and how they are graded
| Factor | Weight | Green | Amber | Red |
|---|---|---|---|---|
| Reserve funding | 25% | Fully funded to the reserve study, no waiver in the last two budgets | Partially funded or recently restored after a waiver | Waived reserves, or reserves below one year of scheduled replacements |
| SIRS status | 20% | Structural Integrity Reserve Study completed and reserves aligned to it | SIRS completed, funding plan still being adopted | No SIRS on file for a building that is required to have one |
| Milestone inspection | 20% | Phase 1 passed with no Phase 2 required | Phase 2 ordered, scope defined, repair budget known | Phase 2 findings open with no funded repair plan |
| Assessment history | 15% | No special assessment in five years | One assessment, fully collected, cause resolved | Active or repeated assessments, or collections shortfall |
| Insurance | 10% | Master policy placed, premium change in line with the market | Premium up sharply, deductible raised | Coverage gap, non-renewal, or wind coverage carved out |
| Age and envelope | 10% | Under 20 years, or documented full envelope restoration | 20–40 years with staged capital work underway | 40+ years with deferred concrete, roof or window work |
What each score band means for a decision
Score 85–100
We will underwrite normally. Budget for routine dues increases only.
Score 70–84
Buy with a documented repair plan and a reserve for one assessment.
Score 55–69
Price the risk in writing, or walk. Financing and insurance may both narrow.
Score Below 55
We do not recommend a purchase without a discount that covers the known capital gap.
How this was built
Data cutoff:
- Factors and weights come from the capital-risk items that actually changed our advice on South Florida condo transactions we handled, not from a published index.
- Each factor is graded green (100), amber (60) or red (0) and multiplied by its weight; the weighted total gives the 0–100 score.
- Grading inputs must be documents: the reserve study, the adopted budget, the SIRS, the milestone inspection report, association meeting minutes, the master insurance declaration page and the recorded assessment history.
- A factor with no document is graded amber and flagged as unverified — it is never assumed green.
- No building is published with a score. Scores are produced per transaction, for the client who ordered the review, because the documents behind them are association records rather than public data.
- Statutory items (SIRS, milestone inspection) follow Florida Statutes Chapter 718; when the statute changes, the framework is re-checked and the update date on this page moves.
What this is not: a rating of any named association, a prediction of a future assessment, or insurance or legal advice. It is a disclosure-reading discipline.
Have us score the building you're considering
Send the address. We request the association documents, run the six factors and come back with the score, the unverified items and what we would negotiate.
Sources
- Florida Statutes Chapter 718 — Condominium Act — Reserve funding, SIRS and milestone inspection requirements
- Florida DBPR — Division of Condominiums, Timeshares and Mobile Homes — Association filings and complaint records
- Florida Office of Insurance Regulation — Property insurance market and rate filings
- Citizens Property Insurance Corporation — Residual-market context for master policy placement
Related reading
- 2026 South Florida market analysis
Pricing, inventory and where condo values are under pressure.
- Waterfront due-diligence checks
Bridge clearance, seawall, dockage and flood zone.
- Buyer representation
How we run diligence from shortlist to closing.
- Buildings we track
Condo and new-development pages with the facts we can verify.
Oleg Sergiienko — Broker of Record, Florida license BK3420278
Oleg leads underwriting and diligence at SunSt. Every framework on this page has been used on live South Florida transactions before it was published.
Reviewed for accuracy by SunSt Real Estate. This page is information, not legal, tax or insurance advice.