What to Ask About a Condo Before You Make an Offer in Sarasota, Manatee, or Charlotte County

Condos are a popular choice for downsizers and retirees moving to Southwest Florida — less maintenance, more security, often in walkable or waterfront locations. But buying a condo is not like buying a single-family home. When you buy a condo, you are also buying into the financial health of the entire building. And in 2026, that matters more than it ever has.

Since the Surfside collapse in 2021, Florida has enacted strict new laws requiring condominium associations to complete Structural Integrity Reserve Studies (SIRS) and fully fund their reserves. The result has been a wave of special assessments across the state, with some buildings asking owners for five-figure payments to cover long-deferred maintenance. For buyers on a fixed income, an unexpected special assessment can change the entire calculation of whether a condo is affordable.

Here are the questions you should ask before making an offer on any condo in Sarasota, Manatee, or Charlotte County. I recommend asking them before you write the offer, not during the inspection period, so you know what you are walking into from the start.

Does the association have a recent Structural Integrity Reserve Study?

As of January 1, 2026, Florida law requires most condominium associations to complete a SIRS report and fund their reserves accordingly. This is the single most important document you can review as a buyer. The SIRS report evaluates the condition and remaining useful life of the building's major components — the roof, structural walls, facade, windows, elevators, plumbing, electrical, and fire protection systems.

If the association has completed its SIRS report and is funding reserves at the recommended level, that is a strong sign of a well-managed building. If the report is incomplete, overdue, or shows significant deferred maintenance, that is a red flag worth investigating before you commit.

Are there any pending or recent special assessments?

A special assessment is a one-time fee charged to unit owners when the association does not have enough reserve funds to cover a major repair or expense. In the last two years, special assessments on Florida condos have ranged from a few thousand dollars to well over $50,000 per unit, depending on the building's age, condition, and reserve funding history.

Ask the association or your real estate agent for the past three years of meeting minutes, financial statements, and any notice of special assessments. You want to know if an assessment is coming soon, even if it has not been formally announced yet. Buildings that have deferred major maintenance for years are at higher risk for large assessments.

What is the monthly maintenance fee, and what does it cover?

The monthly maintenance fee is your recurring cost for living in the building. In Sarasota, Manatee, and Charlotte County, fees vary widely depending on the building's age, amenities, and insurance costs. A typical fee might range from $250 to $800 per month for a mid-range building, and $1,000 or more for a luxury high-rise with full-time staff, a pool, and a fitness center.

More important than the dollar amount is what it covers. Does the fee include basic utilities like water, sewer, and trash? Does it cover cable or internet? Does it include flood insurance for the building, or is that a separate cost? Some buildings bundle everything into the monthly fee; others keep costs separate, which can make the fee look lower but leaves you with additional expenses.

How much does the association pay for insurance, and what is the deductible?

Insurance is one of the biggest stories in Florida real estate right now, and condos have not been spared. The association's insurance premium covers the building's structure and common areas. But the cost has risen dramatically, and many associations have had to increase deductibles to keep premiums manageable.

Ask for the current insurance policy and the association's recent claims history. A high windstorm or hurricane deductible (often 2 percent to 5 percent of the building's insured value) can mean a massive out-of-pocket cost if the building sustains damage. You also need to carry your own HO-6 policy to cover the interior of your unit and your personal belongings — do not assume the association's policy covers everything inside your walls.

What percentage of units are owner-occupied versus rented?

Lenders often have limits on how many units in a building can be tenant-occupied, typically capping it at 50 percent for conventional loans. If the ratio of renters is too high, you may have trouble getting a mortgage, even if you have good credit and a solid down payment.

Beyond financing, a building with a high percentage of owner-occupied units tends to be better maintained and more financially stable. Owners have a direct stake in the building's health. Renters and their landlords may not be as invested in the long-term condition of common areas and major systems.

Are there any pending lawsuits involving the association?

Construction-defect lawsuits are not uncommon in Florida condos, particularly in newer buildings or buildings that have had water intrusion issues. Ask whether the association is currently involved in any litigation, whether it is pending or has been settled recently. A lawsuit can drain reserves, lead to special assessments, and create uncertainty about future costs.

How old is the roof, and when was it last replaced?

In Florida, the roof is not just a maintenance item — it is an insurance item. Many insurance companies will not write a policy for a building with a roof older than 15 to 20 years, or they will charge significantly higher premiums. If the building's roof is approaching the end of its useful life, a replacement is likely coming, and that means a major special assessment.

The same goes for the HVAC systems, elevators, and plumbing. The SIRS report should address all of these, but it is worth asking directly about the age and condition of the roof, since it has the biggest impact on both insurance and future costs.

What is the association's policy on rentals and pet ownership?

This is a practical question, not a financial one, but it matters for your quality of life. Some buildings have strict limits on renting out units, which can affect your ability to use the unit as a seasonal residence or generate rental income. Pet policies vary widely — some buildings allow pets with restrictions on size and number, while others prohibit them entirely.

If you plan to have family stay for extended periods, or if you want to keep the unit as a second home and rent it part of the year, make sure the association's rules align with your plans before you make an offer.

A practical checklist for your condo search

Every condo building is different, and a healthy financial picture in one building does not guarantee the same in another. Here is the checklist I share with my clients who are considering a condo purchase in Sarasota, Manatee, or Charlotte County:

• Review the most recent Structural Integrity Reserve Study
• Request three years of meeting minutes and financial statements
• Ask about any pending or recent special assessments
• Get the current insurance premium and deductible amounts
• Confirm owner-occupied percentage (needs to be above 50 percent for financing)
• Ask about pending litigation
• Check the age of the roof, HVAC, and major systems
• Review rental and pet policies
• Ask how the association is funding its reserve requirements under the new Florida law
• Talk to a current resident about their experience living in the building

For a more detailed overview of how Florida's new condo reserve laws affect buyers and sellers, see my article on Florida's new condo reserve laws in 2026. And for a broader comparison of condo versus single-family home living, my condo vs. single-family home guide breaks down the trade-offs.

If you are considering a condo purchase in Sarasota, Manatee, or Charlotte County and want someone who knows the buildings and the due diligence process, I would be glad to help. Call me at (941) 724-2587 or send a message. I have been guiding buyers through these questions for more than 30 years.