Florida · Association Financing
Milestone Inspection Repairs Financing for Florida Associations
Association-level financing for the repair work a Florida milestone inspection identifies — Phase 1 findings, Phase 2 testing, and the structural program that follows.
Florida's milestone-inspection law (§553.899) requires condominium and cooperative buildings three habitable stories or taller to complete an initial structural inspection by December 31 of the year the building turns 30 (25 in some coastal jurisdictions under local option), and every 10 years after. A licensed architect or engineer performs a Phase 1 visual inspection; if it finds substantial structural deterioration, a Phase 2 inspection follows, which can include destructive or nondestructive testing and produces a recommended repair program. The association must distribute the inspector's report summary to all owners within 45 days, post it conspicuously, and publish it on the association's website if it has one.
The repair scope a Phase 2 report recommends can range from targeted concrete and balcony work to a full structural remediation program touching the garage, facade, and roof — cost depends entirely on what the inspector finds, and any figure is illustrative only, not a quote. Once a repair timeline is set, local ordinances generally require repairs for substantial structural deterioration to be scheduled or commenced within a set window — no later than 365 days after the Phase 2 report in many jurisdictions. Financing lets a qualifying association fund the full recommended program on that timeline, spread over up to 30 years, instead of a lump-sum special assessment.
Applies to
Condo/co-op buildings 3+ habitable stories
Cycle
Initial at 30 years (25 coastal-option), then every 10 years
Repair window
Commonly up to 365 days after a Phase 2 report
Financing term
Up to 30 years
Financing milestone inspection repairs
A Phase 2 report comes with a clock attached — local ordinances generally require repairs to be scheduled within a set window. Financing lets a board move immediately on the full recommended program instead of waiting to assess and collect from owners first.
How the program works
Instead of a lump-sum special assessment, a qualifying association spreads a major reserve or repair project over terms up to 30 years — owners pay a modest monthly line item and the reserve fund stays intact. HOA Capital is not a lender; we connect qualifying Florida associations with an institutional lending program. No cost to apply, no credit pull to inquire.
Milestone Inspection Repairs FAQ
What's the difference between Phase 1 and Phase 2?
Phase 1 is a visual structural inspection. If it finds substantial structural deterioration, a Phase 2 inspection follows — potentially including destructive or nondestructive testing — and produces a report with a recommended repair program and completion timeline.
Do we have to fund the repairs all at once?
Local ordinances generally set a window — often up to 365 days after a Phase 2 report — for repairs to be scheduled or commenced. Financing lets a qualifying association fund the full program on that timeline over up to 30 years instead of a single lump-sum assessment.
How fast can our board see what we qualify for?
About 60 seconds — no cost to apply, no credit pull to inquire.