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

A Community Association’s Four Stages of Life

Community associations, like people, evolve during their lifetimes. Some of it is good and some is bad, but change is

Window Safety and Repairs: Protecting Against Stormy Weather

A lot of people don’t think twice about their homes’ windows—as long as you can see through them and get

Get Involved in Your Community

One of the first steps in making a difference is becoming involved in your community. Because association living is the