Two reviews: the unit and the building
For a single-family rental, the lender looks at one property. For a condo, it also looks at the association: how many units are investor-owned, whether the budget funds reserves, whether there is litigation, whether one owner controls too many units, and whether the master insurance is adequate. Some programs accept buildings that others decline, including condo-hotels or projects with a high share of rentals, so program fit matters.
Florida milestone inspections and structural reserve studies
Florida law requires milestone structural inspections for condominium and cooperative buildings of three or more habitable stories, generally beginning when a building reaches 30 years of age and repeating every 10 years, with a local official able to require earlier timing. Associations must also complete a structural integrity reserve study covering major components such as the roof, structure, fireproofing, plumbing, electrical, waterproofing and windows, and update it every 10 years. Legislation in 2025 adjusted parts of these requirements.
When an inspection or study identifies needed work, the association has to fund it, through higher dues, a special assessment or a loan. Those costs flow directly into the DSCR. Our guide to Florida condo milestone inspections and SIRS lists what to request.
Documents to request before you sign
- The most recent milestone inspection report, if the building has one
- The structural integrity reserve study and the current reserve balance
- The adopted budget and any proposed increase
- Any special assessment schedule, approved or under discussion
- Master insurance declarations and the association’s rental and leasing rules
How dues change the math
Consider a Fort Lauderdale unit that rents for $2,400. If the dues rise from $650 to $950 a month after a reserve study, the full payment rises by $300, and a ratio that was comfortable can drop close to 1.00. Always use the current or proposed dues, not the figure from an old listing. The DSCR calculator has separate fields for dues and assessments so you can see the effect.
Questions about this program
Can I get a DSCR loan on a Florida condo with a high investor concentration?
Some programs accept buildings with many rented units or other characteristics that conventional reviews decline. Program fit is the key, so share the association details early.
Do Florida condo special assessments affect my DSCR?
Yes. Dues and assessments are part of the monthly housing expense compared with rent. Request the reserve study, budget and assessment schedule before you are under contract.