Downsizing to a condo in Tampa: what to check before you buy

Why buying a condo in Florida is different after Surfside

After the Champlain Towers South collapse in Surfside in June 2021, the Legislature passed a series of laws in 2022, 2023, 2024 and 2025. Together they do three things that affect anyone downsizing into a condo:

• Older buildings of three or more habitable stories must have periodic milestone structural inspections.
• Those same buildings must have a structural integrity reserve study (SIRS) and, in most cases, must fully fund reserves for the major structural items it lists.
• Buyers get more documents and more time to review them before they are locked into a resale purchase.

The practical result is that some older buildings have raised monthly assessments or levied special assessments to catch up on repairs and reserves. For a downsizer on a fixed budget, the question is not only "can I afford this unit?" but "can I afford this building over the next ten years?"

Milestone inspections: which Tampa condo buildings need one and when

Section 553.899, Florida Statutes requires milestone inspections for condominium and cooperative buildings that are three or more habitable stories tall. Single-family homes through four-family dwellings are excluded. The original 2022 law applied an earlier 25-year deadline to buildings within three miles of the coast; a 2023 amendment replaced that with a local option. Under current law:

After the first inspection, it repeats every 10 years. The statute lets a local building official require the first inspection at 25 years where environmental conditions, such as proximity to salt water, justify it, and lets the official extend deadlines. The City of Tampa's own guidance uses the 30-year default with no 25-year requirement. Hillsborough County's building department can confirm the rule for a building outside city limits.

Phase one and phase two

Phase one is a visual examination by a Florida-licensed architect or engineer. If it finds substantial structural deterioration, a phase two inspection follows with more detailed testing and a repair plan. Local rules require repairs to begin within 365 days after a phase two report is received. The association must send owners a summary of the report within 45 days of receiving it and post it on its website if it has one.

For a buyer, the phase two finding is the key detail. A clean phase one report is reassuring. A phase two report means repairs are coming, and someone, usually the owners, will pay for them.

Sources: s. 553.899, F.S. (2026); DBPR condominium inspections page.

Structural integrity reserve studies and Florida condo reserve rules

Under section 718.112, every association with a building three or more habitable stories tall must have a SIRS at least every 10 years. It is performed by a licensed engineer or architect, or a credentialed reserve specialist, and it covers:

• Roof
• Structure, including load-bearing walls and primary structural members
• Fireproofing and fire protection systems
• Plumbing and electrical systems
• Waterproofing and exterior painting
• Windows and exterior doors
• Any other item with a deferred maintenance or replacement cost over $25,000 (adjusted for inflation) that could affect the items above

The study estimates each item's remaining useful life and replacement cost, then sets a funding plan. Since December 31, 2024, owners in these associations can no longer vote to waive or reduce reserves for SIRS items. That rule is the main reason some older buildings have seen large assessment increases.

The Florida Department of Business and Professional Regulation keeps a SIRS reporting database where you can see whether an association has reported completing its study. It is a useful first check, but it does not replace reading the study itself.

What HB 913 changed for Florida condo buyers in 2025

HB 913 took effect July 1, 2025. The changes a buyer should know about:

• SIRS deadline moved. Existing owner-controlled associations had until December 31, 2025 to complete their first SIRS, one year later than the earlier deadline. An association that must also complete a milestone inspection by December 31, 2026 may do both together.
• More ways to fund reserves. Reserves for SIRS items may be funded through regular assessments, special assessments, a line of credit or a loan, with approval of a majority of the voting interests.
• A temporary pause. For budgets adopted on or before December 31, 2028, an association that has completed a milestone inspection may pause or reduce reserve contributions for up to two consecutive annual budgets to pay for repairs the inspection identified. A new SIRS is required before contributions resume.
• A baseline funding plan. Studies must now include a funding plan that keeps the reserve cash balance above zero and must separate mandatory reserve items from other items.
• Longer review period. The buyer's cancellation window on resale condos went from 3 days to 7 days (see below).
• More records online. Associations must keep bank statements and video recordings of virtual meetings as official records and post the past 12 months of approved board minutes on their website.

When you review a building, ask directly whether the association is using a pause, a loan or a line of credit. None of these is a problem in itself, but each one shapes what owners will pay later.

Sources: Florida Senate, CS/CS/HB 913 (2025) bill summary; s. 718.112, F.S. (2026).

What documents a Tampa condo buyer receives and the 7-day review period

When you buy a resale condo from an owner (not the developer), section 718.503(2) requires the seller to give you:

• The declaration of condominium, articles of incorporation, bylaws and rules
• The most recent year-end financial statement and the annual budget
• The "frequently asked questions and answers" sheet
• The governance form that summarizes owners' rights
• The milestone inspection summary, if one is required
• The structural integrity reserve study, or a statement that one has not been completed
• The turnover inspection report, if one was performed after July 1, 2023

You then have 7 days, excluding weekends and legal holidays, to cancel the contract by written notice. The clock starts when you sign the contract or when you receive the documents, whichever is later. If you received them more than 7 days before signing, the contract will say so and there is no separate cancellation window.

Seven business days goes quickly. Before you sign, it helps to line up someone to read the documents with you, such as a real estate attorney, and to know what you are looking for. The checklist at the end of this guide is a starting point.

Associations with 25 or more units must also post many official records on a website or app, including the budget, financial reports, rules, SIRS and meeting minutes, so you can often start reading before you make an offer.

Sources: s. 718.503, F.S. (2026); s. 718.111, F.S. (2026).

Estoppel certificates, special assessments and fees at closing

Before closing, the title company orders an estoppel certificate from the association. It confirms the regular assessment, whether the seller is paid up, any special assessments already adopted, transfer fees and whether the board must approve the sale. Under section 718.116:

The Department of Business and Professional Regulation adjusts these caps for inflation every five years. DBPR's first adjustment, in 2022, raised them to $299, $119 and $179; confirm the current caps on DBPR's estoppel certificate fee page or with your title company, since another five-year adjustment may have taken effect since.

One rule matters a great deal: a new owner is jointly and severally liable with the previous owner for unpaid assessments that came due before the transfer. The estoppel protects you by fixing the amounts owed, which is why a title company will not close without it.

Special assessments already in the pipeline

The estoppel shows assessments already adopted. It will not show repairs the board is still discussing. Read the last 12 months of board minutes and ask the listing agent directly whether a special assessment, loan or major project is under consideration. In the contract, spell out who pays any assessment adopted before closing.

Condo master insurance and HO-6 policies in Tampa

The association insures the building under a master policy. Under section 718.111(11), that policy does not cover your personal property or these items inside your unit: floor, wall and ceiling coverings, electrical fixtures, appliances, water heaters and filters, built-in cabinets and countertops and window treatments. You insure those with an HO-6 policy.

• Ask for the master policy's declarations page, including the wind deductible. A large hurricane deductible can become a special assessment after a storm.
• Ask your agent about loss assessment coverage on your HO-6, which can help if owners are assessed for a shared loss.
• Flood is a separate policy. Ask whether the association carries flood coverage on the building and get your own quote for the unit, especially in waterfront areas. Our hurricane and flood insurance guide covers this in more detail.

Check the building's evacuation zone at HCFL.gov/HEAT, since Hillsborough County updated its zones for 2026. Hurricane season runs June 1 to November 30.

Condo rental rules, pet rules, elevators and parking

The declaration and rules shape daily life more than most buyers expect. Read them for:

• Rental restrictions. Minimum lease terms and limits on how often units can be rented. Under section 718.110(13), a new amendment restricting rentals applies to owners who vote for it and to anyone who buys after it takes effect. As a buyer, you will be bound by rules already in place and by any adopted later.
• Pets. Number, size and weight limits and where pets may walk. Requests for assistance animals are handled under fair housing law rather than the pet rules.
• Approval to buy. Some associations require board approval, an application or an interview before closing, and the estoppel will say so.
• Elevators. How many serve the building and whether it has a backup generator. After a storm, a single elevator out of service can affect anyone on an upper floor.
• Parking. Whether a space is assigned, deeded or a limited common element, whether there is guest parking and whether spaces are covered. Covered parking matters in summer storms.
• Renovations. Rules on flooring (many buildings require sound underlayment), contractor hours and approvals.

Comparing condo buildings in Tampa neighborhoods

Most condo options for Tampa downsizers cluster in a few areas, each profiled on our neighborhoods page:

• Channel District and downtown. Mid-rise and high-rise towers, including the twin 30-story Towers of Channelside, on the TECO Streetcar line near the Riverwalk. Tall buildings of any age will eventually need milestone inspections and SIRS updates, so compare reserve funding between buildings.
• Harbour Island. An island a short bridge from the Convention Center with condo and townhome buildings of varying ages. Water on every side makes the building's hurricane preparations, flood coverage and your evacuation zone part of due diligence.
• Davis Islands. An island a few minutes from downtown with Tampa General Hospital at the north tip, mixing homes built in the 1920s with newer residences and condo buildings. Check the age of any condo building to see where it stands on the milestone inspection timeline.
• Westshore Marina District. A newer waterfront district where Tower 1 of the Marina Pointe condo development was completed in 2024. Newer buildings will not need a milestone inspection for decades, but they still need a SIRS, and the first years after the developer turns control over to owners are worth watching.

If you are still deciding between a condo and another format, see condo, townhome, villa or single-family. Some Tampa buyers prefer a townhome or villa with two stories or fewer, which falls outside the milestone and SIRS rules but still has HOA obligations. If an age-restricted building interests you, our 55+ communities guide explains how those work.

A hypothetical example

Two units of similar size are listed in two downtown-area buildings. Building A has lower monthly fees, turned 30 in 2023 and completed a phase one inspection that recommended a phase two. Its SIRS shows reserves well below the funding plan, and the minutes discuss a bank loan for concrete restoration. Building B has higher fees, completed its milestone inspection with no phase two and shows reserves on track. Building A may cost less today but could bring a special assessment or loan repayment soon. Building B's higher fee may be the more predictable number. This example is illustrative only; the documents for real buildings will tell you where each one stands.

Tampa condo buyer checklist

• Year the building received its certificate of occupancy and its number of habitable stories
• Milestone inspection status: phase one report, any phase two report and repair timeline
• Most recent SIRS and whether the association is funding it in full, pausing contributions or using a loan or line of credit
• Current budget, year-end financial statement and reserve balances
• Board minutes for the past 12 months, looking for repairs, loans or assessments under discussion
• Any special assessments adopted or proposed, and who pays them under your contract
• Master insurance declarations page, wind deductible and flood coverage
• HO-6, loss assessment and flood insurance quotes for the unit
• Evacuation zone at HCFL.gov/HEAT
• Rental, pet, renovation and approval rules
• Elevators, generator, parking assignment and guest parking
• The date you received the 718.503 documents and the date your 7-day review ends
• Estoppel certificate amounts at closing

Putting the pieces together

If you are selling a house to buy a condo, the money side matters too. Our Costs and Money guide explains how homestead portability can lower the taxable value of your new condo, and the portability calculator gives a quick estimate. Timing the sale and the purchase is covered in buy first or sell first. When you want a local agent who reads condo documents with downsizers every week, you can get matched with a specialist.