San Francisco passed an ordinance requiring that older high-rise residential buildings (generally those built before 1975 without sprinklers) retrofit their fire suppression systems. For owners and buyers in affected buildings, this can mean significant HOA special assessments to fund the work. The cost varies by building, but it’s not small. Some buildings have already completed the work, some are mid-project, and others are still in planning stages.
Before buying a condo in a pre-1975 building, it’s worth checking whether the sprinkler mandate applies, where the building is in the compliance process, and whether the HOA reserves are adequate to cover the cost without a large assessment. I help buyers identify this early in the due diligence process so the financial exposure is clear before an offer is written. More context on the blog.