Choose a Reserve Study Company in Florida | ReservesPro

You've started getting proposals, and you've already noticed: they don't look anything alike.

One firm quotes $3,500. Another quotes $9,000. One sends two paragraphs. Another sends a twelve-page methodology document. Nothing in the proposal itself tells you which one will produce a reserve study that actually holds up -- legally and financially -- for the next decade.

That's the real problem. Here's how to see past it.

Why the Right Firm Matters More Than Ever

Florida's SIRS requirements changed what's at stake when you hire a reserve study company. For buildings with three or more habitable stories, the study is now a legal document with specific requirements under FL 718.112. A poorly scoped study that misses qualifying structural components, uses outdated cost estimates, or fails to include the required funding plan scenarios leaves your association non-compliant -- which means DBPR exposure, underfunded reserves, and personal liability risk for board members.

Even for traditional reserve studies (covering all common area components, not just structural), the quality of the work drives your annual contribution requirements and special assessment risk for years. A study built on insufficient inspection or stale cost data will produce numbers that don't match your building's actual condition. The gap shows up eventually, usually as an assessment nobody planned for.

The company you choose is shaping your building's financial plan for the next ten years. It warrants more than a price comparison.

Credentials That Matter in Florida

For a SIRS, Florida statute is explicit about who can do the work. FL 718.112 requires the study to be performed or verified by one of three types of qualified professionals:

A licensed engineer under Florida Chapter 471
A licensed architect under Florida Chapter 481
A CAI Reserve Specialist (RS) from the Community Associations Institute, or a Professional Reserve Analyst (PRA) from the Association of Professional Reserve Analysts (APRA)

This is a legal requirement. A firm that can't confirm the credential of the professional signing your SIRS shouldn't be producing your SIRS.

The CAI RS designation requires a minimum of three years of reserve study experience, at least 30 completed studies over that period (at least 20 involving physical on-site inspection), and a relevant bachelor's degree or equivalent experience. It's not a weekend certification. The APRA PRA carries parallel requirements; both are recognized under Florida statute.

For traditional reserve studies, credentials aren't statutorily required -- but they're still a meaningful indicator that the professional doing the work has verifiable, professional-grade experience.

One thing worth knowing before signing anything: Florida law requires any contractor or design professional who performs a SIRS and then bids on work the study identifies to disclose that conflict in writing to the association. If a firm is offering to identify problems and then fix them, ask about that disclosure upfront.

Five Questions to Ask Every Candidate

The proposal won't tell you what you need to know. These questions will.

1. Who will perform the site inspection and sign the report? Get the name. Verify the credential. License numbers are public record; CAI and APRA maintain searchable professional directories. For SIRS, this is a legal requirement. For any study, it tells you who's professionally accountable for the work.

2. What does your site inspection process actually involve? A full study requires a physical walkthrough of every major component. Ask how long the site visit takes for a property your size and what's documented during the inspection. If the answer is vague, or the firm treats the site visit as a formality, that's a signal about the study quality you can expect.

3. What is your Florida SIRS experience specifically? SIRS is different from a traditional reserve study -- different scope, different statutory requirements, different documentation standards. Ask how many Florida SIRS studies the firm has completed under current law. Experience with the eight statutory structural components and FL 718.112's funding plan requirements isn't interchangeable with general reserve study experience.

4. How many funding scenarios does the report include? Florida statute requires a funding plan and a baseline plan in every SIRS. Good firms go further -- modeling multiple scenarios (straight-line, pooled, loan-supplemented) so your board can compare options before committing to one. One scenario isn't analysis; it's a compliance checkbox.

5. What does an update cost, and when do you recommend one? SIRS studies are required at least every 10 years by statute. Traditional reserve studies are best updated every 3-5 years to keep cost estimates current. Understanding the long-term professional services commitment helps you budget for the years ahead, not just this cycle.

How to Compare Proposals

In 2026, Florida reserve study pricing looks like this:

Traditional reserve studies: $1,650-$11,000+, depending on unit count, component count, building age, and complexity
SIRS: $5,500-$16,500+, with higher costs for drone inspections or multi-building properties
Costs have risen roughly 12-18% over the past two years due to inflation and increased service complexity

A proposal well below the low end of these ranges warrants direct questions about what's included in the scope.

Beyond price:

Component detail. Ask how many line items the study includes for a property your size. Request a sample report from a comparable building. A report covering 40 components with condition notes is more useful than one covering 20 at a summary level.

Cost estimate sourcing. Ask where replacement cost estimates come from. Credible firms use industry databases like RSMeans or verified local contractor pricing. "Based on similar projects" without a named source isn't a methodology.

Funding scenario depth. Multiple scenarios make a reserve study a planning tool; a single scenario makes it a compliance document. A firm willing to model your specific options -- including loan-supplemented approaches if relevant to your building -- is producing something genuinely useful.

Red Flags That Should Disqualify a Firm

No physical site inspection for an initial or SIRS study. Desk reviews have a legitimate place for some update studies -- but not for initial studies and not for SIRS. Florida statute requires visual inspection. A firm proposing a full study or SIRS without visiting the building isn't meeting the legal standard.

Single funding scenario. One number and one path forward is a template, not analysis. If a firm can't model alternatives, your board doesn't have a real choice -- it has a document.

No Florida SIRS experience for a SIRS engagement. Ask directly: how many Florida SIRS studies have you completed under current statutory requirements? If the answer is none, vague, or deflected, that's material.

Can't name who will sign the report. The person selling the engagement and the credentialed professional signing the document are often different. Get the name and credential of the signer before you commit.

Pressure to sign quickly. Reputable firms don't need a rushed decision. If someone is manufacturing urgency around a deadline that may or may not actually apply to your building, pause.

What to Do After the Study Is Complete

The reserve study is a snapshot. From the moment you receive it, the numbers start aging.

The boards that get the most value from their study don't put it in a drawer -- they use it as the starting data and track their reserve funding against it year over year. Are actual contributions matching the required funding plan? Is the projected reserve balance on track? Are upcoming expenditures covered by the current balance?

Reserves Pro is built for exactly this. Once you have your reserve study data, you can model how your current contribution rate tracks against the funding plan, compare different approaches, and see the 30-year impact -- without waiting for the next full study.

The study gives you the data. Reserves Pro keeps it working between studies. Create a free account at reservespro.com/method and see where your reserve funding actually stands.

Reserve Study Company Evaluation Checklist

Criteria	What to Look For
Credential	Licensed engineer, architect, CAI RS, or APRA PRA
Florida SIRS experience	Completed Florida SIRS studies under current law
Site inspection	Physical walkthrough required; ask about process and duration
Components covered	All eight SIRS components; transparent scope
Funding scenarios	Multiple options modeled
Cost estimate sourcing	Named database or local pricing data
Sample report	Ask to review format and component detail
Update policy	Clear process and pricing for future updates
Conflict disclosure	Written disclosure if firm bids on work they identify

Frequently Asked Questions

Does Florida law require specific credentials to perform a reserve study? For SIRS, yes. FL 718.112 requires the study to be performed or verified by a licensed engineer, licensed architect, CAI RS, or APRA PRA. Traditional reserve studies don't carry this statutory requirement, but credentialed professionals are the right choice regardless.

What is the difference between a CAI RS and an APRA PRA? Both are professional designations for reserve study specialists. CAI offers the RS; APRA offers the PRA. Both require meaningful experience and continuing education, and both are recognized under FL 718.112.

How much should a Florida reserve study cost? In 2026: traditional reserve studies typically range from $1,650 to $11,000+; SIRS from $5,500 to $16,500+, depending on building size and complexity. A quote well below these ranges warrants questions about what's included.

How often do reserve studies need to be updated? SIRS: at least every 10 years under FL 718.112. Traditional reserve studies: no statutory requirement, but industry best practice is every 3-5 years.

Can we do our own reserve study? Not for a SIRS. Florida statute requires it to be performed or verified by a credentialed professional. Self-conducted studies don't meet the legal standard.