Florida condo rules that affect every purchase
Milestone inspections. Under Florida Statutes section 553.899, condo and co-op buildings three habitable stories or more in height need a milestone inspection by 31 December of the year the building turns 30, and every 10 years after that. Local agencies can require one at 25 years where conditions warrant. Phase one is a visual inspection by a licensed architect or engineer. Phase two is only needed if phase one finds substantial structural deterioration.
Structural integrity reserve studies (SIRS). Under section 718.112, residential condo buildings three habitable stories or higher need a SIRS every 10 years covering items such as the roof, structure, fireproofing, plumbing, electrical, waterproofing and windows. For budgets adopted after 31 December 2024, unit-owner-controlled associations cannot vote to fund less than the required reserves for those items, with limited exceptions. The 2026 statutes also let associations use lines of credit or loans for these costs and, in some cases, delay a SIRS for up to two budget years after a milestone inspection.
A building under three habitable stories falls outside these two requirements, though its association still needs a sound budget and reserves. Ask the association which rules apply to your building and get it in writing.
Documents to request before you sign
- The current budget and the most recent year-end financial statement.
- The SIRS or other reserve study, and how the budget funds it.
- Milestone inspection reports, if the building needs them.
- Board minutes for the last 12 months. Look for talk of special assessments, loans or major repairs.
- The master insurance policy and deductible, so you know what your own HO-6 policy must cover.
- Rental and pet rules, and any approval process for buyers or tenants.
- An estoppel certificate showing dues and any amounts owed on the unit.
Our guide to buying a condo in Florida covers these documents in more detail.
CDD assessments can apply to condos too
A condo inside a Community Development District pays CDD assessments on top of association dues. Bella Collina, a gated community in Montverde just north of Clermont, has lakefront Siena condos inside the Bella Collina CDD. That district's FY2027 budget sets a gross operations and maintenance assessment of $84 per condo unit, with separate debt assessments where bonds apply. Check the tax bill for any condo you consider. See our Bella Collina page.
Condo prices in Clermont
Zillow's typical Clermont value of $428,604 in August 2026 covers all home types, so condos and townhomes usually trade below it. Our brief does not include a Clermont condo-only index, so compare closed sales in the same building or complex over the last six to twelve months. Watch for units that sold with a special assessment still owing, because that affects price.
Ask whether a unit is a condominium or a townhome in an HOA. The legal form changes who insures and repairs the roof and exterior, and whether condo statutes apply. See our Clermont ZIP guide for values by area.
Work out the full monthly cost
| Cost | Where to find it |
|---|---|
| Principal and interest | Your lender (Freddie Mac's 30-year average was 7.03% in late September 2026) |
| Association dues | Current budget and estoppel |
| Special assessments | Board minutes and estoppel |
| Property tax and CDD | Lake County tax bill; see our Lake County tax guide |
| HO-6 insurance | Quote for the exact unit |
Financing and warrantability
Some lenders apply extra review to condos, looking at reserves, owner-occupancy, pending litigation and the building's inspection status. A building with a large unfunded repair or a pending special assessment can be harder to finance. Ask your lender early whether the complex qualifies, and get the condo questionnaire started as soon as your offer is accepted.
Red flags
- Reserves far below what the reserve study recommends.
- A recent or planned special assessment that the seller has not disclosed.
- A master policy with a high deductible that owners would share.
- Rental caps or approval rules that clash with your plans.
- Minutes that mention litigation with a developer or contractor.
For the wider market, see our Clermont home value page.
Common questions
Do Clermont condos need milestone inspections?+
Only buildings three habitable stories or more in height that are condo or co-op owned. Under Florida Statutes section 553.899, the first inspection is due by 31 December of the year the building turns 30, then every 10 years. Ask the association whether your building meets the height test and for any reports.
What is a structural integrity reserve study?+
A SIRS is a study required under Florida Statutes section 718.112 for residential condo buildings three habitable stories or higher, repeated every 10 years. It covers items such as the roof, structure, plumbing, electrical and waterproofing. For budgets adopted after 2024, owner-controlled associations generally cannot fund less than the required reserves for those items.
Can a Clermont condo have a CDD fee?+
Yes, if the complex is inside a Community Development District. The Bella Collina CDD, for example, adopted an FY2027 operations and maintenance assessment of $84 per condo unit, with debt assessments where bonds apply. CDD charges appear on the county tax bill, separate from association dues.
What documents should I review before buying a condo?+
Ask for the budget, financial statements, reserve study or SIRS, any milestone inspection reports, the last year of board minutes, the master insurance policy, rental and pet rules, and an estoppel certificate. Together they show dues, reserves, planned repairs and anything owed on the unit.
Sources
- Florida Statutes: Section 553.899, mandatory structural inspections for condominium and cooperative buildings
- Florida Statutes: Section 718.112, condominium bylaws (structural integrity reserve studies)
- Bella Collina CDD: FY2027 adopted budget (PDF)
- Bella Collina: Real estate
- Zillow Research: Home value and market data (ZHVI), August 2026
- Freddie Mac: Primary Mortgage Market Survey