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Is a reserve study required for a condo association or HOA?


Our condo association board has added the cost ($3000reserve study.00) for having a Reserve Study in our budget for next year stating that it is "required by the State of Florida". I have been told that we are not required to have done because we are only a 2 story condominium complex and while it may be a good idea to have a reserve study performed, it is only required for buildings 3 stories or higher. Would someone please clear this up for us and is $3000.00 a reasonable rate for a 2 story, wooden structure, 80 studio unit complex with 1 pool & small club house?

How much does a reserve study cost?

Answers (5)

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