Community Association Reserve Funding: Pooled Method vs. Component Method

Reserve funding for certain common element items is required for community associations under Florida law. Specifically, condominium associations must fund reserves for roof replacement, building painting, pavement resurfacing and any other item that has a maintenance expense or replacement cost exceeding $10,000. Fla. Stat. § 718.112(2)(f). For homeowners’ associations, if the developer initially established reserve accounts or the members affirmatively elect to provide for reserves, then the association must fund those reserve items in future budgets. Fla. Stat. § 720.303(6)(b).    Read the article…………..


Related Articles

Swimming Pools: Summer Fun or Summer Burden? (IL)

Many communities have swimming pools for residents to enjoy. A lot goes into maintaining a clean, healthy, safe and fun

Material Supplier Construction Lien Rights: Lien Releases (FL)

One of a construction material supplier’s biggest concerns is making sure they will get paid. There are a few things

Managing a Major Project in a Condo Association #3: The Design and Bid Phase

Before unleashing the technical representation on the project, you need to come together as a Board and Management and figure out your approach and major parameters and priorities for the effort.