HOA fees in a new Florida condo

On a pre-construction condo, the HOA fee in the sales materials is an estimate. It comes from the budget the developer prepares for the future association, and it can change before delivery and after. Since the Surfside collapse in 2021, Florida also asks more of associations on reserves and inspections, which shapes how the fee is set.

What the fee pays for

The HOA or maintenance fee covers the building's shared costs: property insurance, staff, security, cleaning, elevator and common area upkeep, amenities, management and reserves for future repairs. Buildings with a hotel brand or concierge services usually carry higher fees because the service package is larger. In Florida, building insurance is often one of the heaviest lines in the budget.

The budget is an estimate

The purchase contract must state conspicuously that the budget figures given to the buyer are estimates and that changes in cost are not material adverse changes to the offering (Florida Statutes, 718.503). In other words, the fee can rise without giving you a right to cancel.

Many developers offer a guarantee period, committing to hold the fee at a set level for the first months after delivery. When there is one, it is described in the condominium documents. Check how long it lasts and what happens when it ends.

Reserves and the SIRS

After Surfside, the law introduced the Structural Integrity Reserve Study (SIRS), which sets how much the association must save for items such as structure, roof, facade, waterproofing, plumbing and electrical systems. It applies to buildings with three or more habitable stories and must be done at least every 10 years (718.112).

Two rules matter for pre-construction buyers. While the developer controls the association, it may not vote to waive or reduce reserves. And for budgets adopted on or after December 31, 2024, owner-controlled associations may not fund less than the SIRS requires for those items (718.112). That tends to make fees more realistic from the start, even if sometimes higher.

Inspection at turnover

For each building three or more stories tall, the developer must have a turnover inspection report when control passes to the owners, under sections 718.112 and 718.301. It gives the new board a record of the building's condition when it takes over management.

What changed in 2025

HB 913, passed in 2025, adjusted these rules. According to the Florida Senate's official summary, the SIRS now applies to buildings with three or more habitable stories, the deadline for associations to complete it moved to December 31, 2025, the threshold for an item to be reserved rose from $10,000 to $25,000, and if a proposed budget exceeds 115% of the prior year's assessments, the association must also propose a substitute budget without discretionary spending. Milestone inspections remain tied to building age, starting at 30 years, so they do not weigh on a new building in its early years.

Questions to ask before you sign

• What is the estimated fee per square foot and what does it include (water, internet, valet)?
• Is there a fee guarantee period, and how long does it last?
• How much of the budget goes to insurance and how much to reserves?
• Is there a working capital contribution to the association at closing?
• What are the rental rules in the declaration of condominium?

I help you gather these answers from the sales team and compare projects side by side on the hub. For questions on the documents, I connect you with a real estate attorney. This article is educational and is not legal advice.

Frequently asked questions

Can the HOA fee go up after delivery?

Yes. The initial budget is an estimate, and the association adopts a new budget every year. A developer guarantee, when offered, lasts for a limited period.

What is a SIRS?

The Structural Integrity Reserve Study, required for buildings with three or more habitable stories and redone at least every 10 years. It sets how much the association must save for structural items.

Does a new building mean less risk of special assessments?

A new building does not face a milestone inspection in its early years and starts with reserves required by law, but special assessments are still possible. Read the budget and the reserve plan before you decide.

Sources: Florida Statutes 718.112 and 718.503 (2025 edition); Florida Senate summary of CS/CS/HB 913 (2025). Reviewed October 2026.