Our Florida condominium association has 9 units. We are considering having a reserve study performed. How do you determine a reasonable cost to perform a reserve study?
It is my understanding that condominium associations are required to have an insurance valuation performed every 3 years to update the insured values of our property insurance. The same company that performed our insurance valuation has proposed a fee for the reserve study that was shocking. After no response from us, they later followed up and cut the price in half for the reserve study.