Buying or selling a Downtown Tampa condo comes with a new must-know: Florida’s “milestone inspection.” If you are in a mid or high-rise, you may be on the clock to confirm the building’s structural health, plan repairs, and align reserves. You want clarity on timing, scope, potential costs, and how this affects financing and negotiations. This guide explains what applies in Downtown Tampa, what to request from an association, and how to move forward with confidence. Let’s dive in.

What a milestone inspection covers

A milestone inspection is a licensed engineering or architectural review of a building’s structural integrity. The goal is to identify deterioration early, outline repairs, and support safer long-term planning for owners and associations.

Who performs it

• A Florida-licensed structural engineer or a Florida-licensed architect must perform the inspection.
• The professional issues a written report to the association, and in some cases provides notices to owners or state authorities.

What inspectors look at

• Structural systems, including foundations, columns, beams, load-bearing walls, slabs, and framing.
• The exterior envelope, such as cladding, windows and glazing, balconies, stairways, and guardrails.
• Roofing and roof drainage as they affect structural integrity.
• Waterproofing and flashing that protect the structure from moisture.
• Visible signs of deterioration like cracks, spalling, corrosion of reinforcing steel, delamination, water intrusion, or settlement.

Typical deliverables

• A written report that identifies deficiencies, classifies urgency, and recommends repairs or further evaluation.
• Estimated cost ranges and timelines to address findings.
• A recommendation for the next inspection interval, usually every 10 years unless otherwise directed.

Which buildings in Tampa must comply

Florida generally requires milestone inspections for condominium and cooperative buildings that are three stories or more. The timeline depends on the building’s age and location.

Key timing rules

• First inspection at 30 years from the building’s certificate of occupancy, then every 10 years.
• Buildings within a defined coastal distance often have an earlier first inspection at 25 years, then every 10 years. Because the coastal definition is technical, verify your building’s status with the association and local records.

Why this matters Downtown

Downtown Tampa includes many mid and high-rises built from the 1970s through the 2000s. Proximity to Tampa Bay may place some buildings on the accelerated coastal timeline. Confirm both the certificate of occupancy date and whether your building qualifies as coastal.

How inspections affect reserves and assessments

Milestone inspections and reserve studies work together but serve different purposes.

Inspection vs. reserves

• The milestone inspection is a technical assessment that identifies current conditions and needed structural repairs.
• A reserve study is a financial tool that forecasts future capital projects and sets recommended reserve contributions.
• A significant inspection finding usually triggers an updated reserve study and may lead to changes in monthly assessments or special assessments.

Financial impacts you might see

• Large capital repairs can range from tens of thousands to millions of dollars, depending on building size and deterioration.
• If reserves are insufficient, associations may levy special assessments or obtain loans to fund repairs.
• Lenders evaluate the association’s financial health. Major unresolved repairs, low reserves, or large assessments can affect mortgage approvals.
• Insurance and marketability may be harder for buildings with major deficiencies or open structural issues.

Practical impacts for buying and selling

A current or pending milestone inspection can shape price, timelines, contingencies, and financing.

For sellers

• Expect buyers to request the milestone inspection report, reserve study, financial statements, board meeting minutes, and details on any pending or proposed assessments.
• If major repair costs are identified, buyers may request price adjustments, credits, or escrow arrangements.
• Confirm the association’s timing for repair decisions and funding. Board approvals and contracting can take time, which can influence your listing strategy.

For buyers

• During due diligence, request the latest milestone inspection, the reserve study, current financials, and recent meeting minutes that show board action on findings.
• Ask about any approved or proposed special assessments or loans, including amounts, schedules, and what they will fund.
• Check with your lender early. Some lenders require documentation of reserves, completed repairs, or firm funding plans before approving a loan.

For both sides

• Insurance carriers consider building age and condition. Findings about moisture intrusion or corrosion can affect underwriting.
• In Downtown Tampa, verify whether the building’s proximity to Tampa Bay places it on the coastal schedule and whether salt-air corrosion risks have been documented.

What to request from the HOA

Use this list to keep your review focused and complete.

• Age and certificate of occupancy date for the building.
• The latest milestone inspection report and any follow-up or Phase II evaluations.
• The most recent reserve study and a summary of reserve account balances.
• Current financial statements and budgets, including planned reserve contributions.
• Board meeting minutes addressing inspection findings and repair plans.
• Details on any special assessments or loans, including payment schedules and project scopes.
• Status of permits or code items from Hillsborough County or the City of Tampa, if applicable.

Timeline and coastal schedule: Downtown Tampa specifics

• If your building is three stories or more and around 30 years old, ask the association when the first milestone is due.
• If the building may fall within the defined coastal distance, confirm whether the first inspection is due at the 25-year mark instead.
• After the initial milestone, plan for inspections every 10 years.

How findings translate to action

A clear report sets up a practical plan for repairs and funding.

For associations

• Update the reserve study after receiving the milestone inspection report.
• Obtain multiple bids to refine cost estimates and compare scopes and schedules.
• Consider phasing work to manage cash flow while prioritizing urgent structural tasks.
• Communicate early and often with owners about options, timing, and expected financial impacts.

For owners

• Review the inspection summary and ask clarifying questions about timelines and cost allocations.
• If a special assessment is proposed, understand the payment schedule and whether a loan is being considered.
• Track board decisions and project milestones to anticipate future budget needs.

Negotiation and contract tips

Milestone-related details belong in the contract conversation.

• Add contingencies that allow time to review the milestone inspection, reserve study, and special assessment exposure.
• If an inspection is due but not complete, agree on how results will be handled and who is responsible for any identified repairs.
• If an assessment is known, specify whether credits, price adjustments, or escrow will address it at closing.

Buyer and seller checklists

Buyer due diligence checklist

• Confirm the building’s age and certificate of occupancy date.
• Request the milestone inspection report, reserve study, financials, and minutes.
• Ask whether the building is on the coastal timeline.
• Clarify status of repairs: completed, under contract, planned, or unfunded.
• Confirm any assessments or loans, including amounts and schedules.
• Speak with your lender early about building-level issues.

Seller preparation checklist

• Assemble a digital folder with the milestone report, reserve study, financials, minutes, insurance summary, and any assessment documentation.
• Know key dates: inspection timelines, board votes, bid deadlines, and construction schedules.
• Coordinate with your listing agent to present building facts clearly and anticipate buyer questions.

Downtown Tampa takeaways

• If your condo building is three stories or more, expect a milestone inspection at 30 years, or earlier on the coastal timeline.
• The inspection report can influence reserves, assessments, financing, insurance, and pricing.
• Clear documentation and early lender engagement reduce surprises and help you negotiate from strength.

When you want seasoned guidance on navigating inspections, reserves, and negotiations in Downtown Tampa’s luxury towers, connect with the Gay Glaser Gunning Group for a private consultation and a discreet, results-driven strategy.

FAQs

What is a Florida condo milestone inspection?

• It is a licensed engineer or architect’s review of a building’s structural health to identify deterioration, recommend repairs, and set inspection intervals.

Which Downtown Tampa buildings must get inspected?

• Condominium and cooperative buildings that are three stories or more must undergo a milestone inspection at required intervals based on age and location.

When is the first milestone inspection due?

• The first milestone inspection is generally due at 30 years from the building’s certificate of occupancy, or at 25 years if the building is within a defined coastal distance.

What do inspectors evaluate during a milestone?

• They review structural systems, the exterior envelope, balconies, roofing elements that affect integrity, waterproofing, and visible signs of deterioration like cracking or corrosion.

How can milestone findings affect my monthly costs?

• Findings can lead to updated reserves, higher reserve contributions, or special assessments if large repairs are required and reserves are insufficient.

Will lenders care about the inspection report?

• Yes. Lenders assess building condition, reserves, and assessments; major unresolved issues can affect mortgage approvals or underwriting terms.

What documents should I request before I buy a unit?

• Ask for the milestone inspection report, the reserve study, current financials, board meeting minutes, and details on any approved or proposed assessments or loans.