SOCOTEC Partners with Bisnow to Fortify the Essential Role of Structural Integrity Reserve Studies in Safeguarding Owners' & Condominiums' Assets

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Mar 26, 2024, 08:25 ET

NAPLES, Fla., March 26, 2024 /PRNewswire/ -- SOCOTEC USA, a leading provider of TIC (Testing, Inspection, and Certification), consulting, and advisory services with a strategic focus on buildings and infrastructure, announces the collaboration with Bisnow to educate audiences on the vital importance Structural Integrity Reserve Studies (SIRS) play in the condominiums sector to safeguard lives and real estate assets.

Maintaining structural integrity is paramount to safeguarding property investments. A key tool in this endeavor is the structural integrity reserve study, a comprehensive assessment that evaluates the condition of a condominium's major components and estimates future repair and replacement costs.

In response to the enactment of the Surfside Bill following the tragic collapse of the Champlain Towers in Surfside, Florida, SOCOTEC, a renowned architectural, engineering, and advisory consulting firm, announces its proactive assistance to condominium associations statewide. The new legislation mandates structural integrity reserve studies every 10 years for buildings of three stories or more, aiming to prevent similar incidents by addressing structural issues proactively.

Following the lead of 11 other states with similar regulations, Florida's statewide initiative is under scrutiny after the Surfside tragedy. Many condo associations in the state are navigating the complexities of compliance with this new law. SOCOTEC recognizes the urgency and complexity of the situation and is prepared to guide clients in optimizing the integrity and sustainability of their buildings.

Casey Ward, Principal and Regional Director of SOCOTEC's Southeast Division, emphasized the critical role of comprehensive reserve studies in averting future disasters. "After the tragic event that happened in Surfside nearly two years ago, legislators are recognizing that people live in these condominiums and a lot goes into maintaining these large structures, especially in a saltwater environment" Ward explained. "There's key components that associations have to start reserving for, so this doesn't happen again, including waterproofing, roof repairs/replacement and more."

The new Florida statute encompasses various structural features, including primary structural members, fireproofing, windows, exterior doors, plumbing, and electrical systems. SOCOTEC stresses the importance of conducting these reserve studies by licensed engineers or architects to ensure accurate assessments of current conditions, remaining useful life, and replacement costs for each asset.

Michael York, Director of Business Development at SOCOTEC, emphasized the long-term benefits of structural integrity reserve studies. "It allows owners to put reserved funds to the side so that when their roof has to be replaced in 15 to 20 years, they're properly funded instead of trying to push it off while allowing additional damage to the building to occur," York stated. "Our firm is specifically involved in the association world, and we're noticing that there's a concern among associations where they don't know if they're getting a proper evaluation, whether it's for the milestone inspection or the reserve funding," York said.

"As Florida continues to adapt to the requirements of the Surfside Bill, SOCOTEC reaffirms its commitment to serving as a trusted partner to condominium associations across the state seeking the safety and resilience of their buildings through our ongoing inspections, planning, and strategic guidance."

To read the full article, go to Bisnow.com.

The full article was produced in collaboration between SOCOTEC, Bisnow, and Studio B staff. Studio B is Bisnow's in-house content and design studio. To learn more about how Studio B can help your team, reach out to [email protected]. Contact Studio B Writer Emily DeNardo at [email protected].

About SOCOTEC
The SOCOTEC Group, headed by Hervé Montjotin, has built its reputation as an independent, trusted partner assisting companies in the areas of quality, sustainability and safety, and the environment.

Today a leading $1.3 billion EUR company that more than doubled in size in 6 years, SOCOTEC's mission is to ensure the integrity and performance of building and infrastructure assets and people's safety. Through its inspection and measurement, assistance and consultancy, training, and certification services, SOCOTEC helps to optimize the performance of companies in every sector by managing the risks inherent in their activities. Drawing on its expertise and positioning itself as a long-term partner, SOCOTEC supports its clients throughout their project's lifecycle.

As a major player in TIC for the building and infrastructure sectors, the SOCOTEC Group has 200,000 clients with operations in 26 countries, 11,500 employees and over 250 external recognitions.

SOCOTEC, an industry leader in the building and infrastructure sectors, offers the combined highly technical expertise of an expansive and holistic network of experts across six service lines: (i) Building Envelope; (ii) Energy & Sustainability; (iii) Code & Planning; (iv) Life Safety; (v) Project Advisory; (vi) Dispute Resolution; and (vii) Specialty Engineering. In the USA, SOCOTEC employs approximately 550 professionals in more than 25 offices.

Visit www.socotec.us for more information.

SOURCE SOCOTEC