It’s Your Money… What Florida HB 913 Really Means for Condo Boards

Fiduciary Duty, Reserve Strategy, and Long-Term Readiness

On July 1, 2025, Florida’s newly enacted HB 913 becomes more than just a policy update, it is a harbinger, a true turning point for how Florida condominium associations, and eventually all HOAs across the nation, will manage structural risk and financial stewardship.

With a deadline of December 31, 2025, communities with residential buildings three stories or taller must complete a Structural Integrity Reserve Study (SIRS). This study is not just about engineering; it is about making sure boards are planning for, and funding, the long-term safety and integrity of their buildings.

Here is what you need to know, and why it matters.

The New Standard: Reserves Are No Longer Optional

Historically, many Florida associations voted to waive or reduce reserves, often to ease monthly assessments. HB 913 closes that door for critical structural components like roofing, plumbing, load-bearing walls, and foundation systems. Kicking the can down the road is history. These reserves are now mandatory.

Boards must now adopt funding plans that:

• Keep reserve balances from falling below zero,
• Include components over $25,000 (adjusted for inflation),
• And are based on professionally prepared studies that meet new disclosure and conflict-of-interest rules.

In short, boards can no longer afford to underfund and hope for the best. Fiduciary duties of HOA Board Members require thoughtful action, proactive planning, and not reactive budgeting.

What This Means for Board Members and Property Managers

The law expands flexibility in how boards fund reserves, introducing the ability to use loans, lines of credit, or special assessments when needed. It also gives room to pause contributions temporarily in cases of uninhabitability or when milestone inspection repairs are underway.

However, flexibility brings complexity. Should you switch from straight-line to pooled accounting? Can you invest your reserves safely without sacrificing access or liquidity? How do you plan around projected inflation or rising construction costs?

These are fiduciary questions, not just financial ones—and they carry incredible weight for all stakeholders.

It is Time for Education, Not Just Compliance

This moment is a valuable opportunity for boards to deepen their understanding of reserve planning, prudent investing, capital repair cycles, and funding strategy. HB 913 puts the responsibility for building health squarely in the hands of those who govern it.

Well-prepared boards are already:

• Reviewing prior reserve studies for accuracy,
• Comparing funding methods based on their cash flow,
• Seeking outside guidance to align reserve portfolios, investments, and emergency funding with the revised state law.

Whether collaborating with legal counsel, reserve specialists, or financial professionals, the message is clear: community leadership now requires more than good intentions, it clearly requires competency and foresight.

Finding the Right Path Forward

Some associations are turning to advisory firms that specialize in reserve fund analysis and planning, particularly those familiar with HOA statutes and structural risk. These professional partners can help boards translate engineering findings into practical funding strategies while preserving access, liquidity, and compliance.

The March Group, for example, has worked with associations for decades on “Needs-Based Analysis” and investment planning, reserve structuring, and long-range financial strategies. While every board must choose the partner that fits their values, experience with reserve compliance and fiduciary oversight has never been more important.

In Closing & Preparing for the Future

HB 913 is about protecting communities, property values and the Florida economy, not just from physical deterioration, but from financial missteps. It asks board members to rise to a higher standard of care, one grounded in transparency, education, and strategic foresight.

Because when the goal is long-term safety, maintaining property values and community trust, the cost due to lack of forethought or under preparation is far too high.