Florida’s Senate Bill 4D Blog

Florida’s Senate Bill 4D Is Waking Up HOAs — But Is It Too Late?

Intro

“We were blindsided.”
That’s what one longtime Florida condo resident said after receiving a $35,000 special assessment notice due in 90 days.

Now imagine that board meeting. Angry owners yelling. Tears from retirees on fixed incomes. Lawsuits being threatened. And the property manager stuck in the middle—burned out, blamed, and ready to walk away.

This is the new reality for associations across Florida and it's only getting worse.

The Time Bomb: How We Got Here

After the Surfside tragedy in 2021, Florida passed Senate Bill 4D to address structural safety in condos and multifamily buildings. It was a necessary wake-up call, but for many associations, it's arriving too late.

SB 4D mandates Structural Integrity Reserve Studies (SIRS), full reserve funding, and prohibits boards from waiving contributions for key structural components.

Most boards are now discovering they’ve underfunded reserves by hundreds of thousands even millions of dollars.

And here's the kicker: You can’t waive or ignore this anymore. You must fully fund these reserves or issue massive assessments.

Angry Residents. Skyrocketing Insurance. HOA Board Chaos.

Residents aren’t just surprised. They’re furious.

- “Why didn’t anyone plan for this?”
- “I’m retired—where am I supposed to get $35,000?”
- “You want us to vote on this in 7 days?”

Insurance premiums are doubling or tripling, realtors are refusing to list non-compliant units, and boards are burning out. HOAs are issuing special assessments and losing owner trust overnight.

What Is a SIRS Report—and Why Does It Matter?

The Structural Integrity Reserve Study (SIRS) is the foundation of SB 4D. It identifies all critical structural components, assesses useful life and replacement costs, and determines how much must be reserved annually.

Deadline: December 31, 2024.

The result? Massive reserve shortfalls—and a panic to raise cash.

There’s a Smarter Way Than Special Assessments

HOA loans, association loans, and condo association loans exist to avoid this crisis.

✅ Fund 100% of project costs upfront
✅ Spread repayment over 15–25 years
✅ Avoid massive special assessments
✅ Protect vulnerable owners
✅ Stay compliant with SB 4D

Example: Funding Without the Fee Shock

Let’s say your association needs $1.5M for restoration.

- Special assessment: $30,000 per unit
- HOA loan over 25 years: ~$125/month per unit

Which one do you think owners would accept?

Why Boards Freeze (and Why They Can’t Afford To)

Boards often delay action to avoid confrontation. But every delay:
- Raises project costs
- Increases legal risk
- Damages owner trust

Doing nothing is no longer an option.

Get a Free Affordability Model for Your Association

We help boards:
- Run a free affordability model
- Match with HOA lenders
- Create sample term sheets
- Communicate financing clearly to owners

No personal guarantees. No credit checks. Just smart funding.

Final Warning: Boards Don’t Get a Second Chance

You can try to squeeze your owners with special assessments… or take a smarter path.

Be the board that solved the crisis—not the one that got replaced.

Call to Action

👉 Request Your Free Reserve Gap Affordability Model Now
Or visit HOALoans.com to explore your options today.