Our condo association board has added the cost ($3000.00) 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?