HOA Reserve Accounts: What Are You Missing?
Maintenance, repair and upgrade of the common areas of a community can be costly, and reserve accounts can be a great planning tool for large projects. In 2007, Section 720.303(6) of the Florida Statutes was added to the Florida HOA Act establishing procedures and rules related to reserves if a) they were originally established by the developer prior to turnover; or b) a majority of the homeowners voting to establish specific reserves. Read the Q&A…………
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