Most associations know that it is important to adequately fund their reserve items. However, the … Continue Reading… 2023 Florida Reserve Funding Updates The 2023 Florida Legislative Session made some changes to Senate Bill 4D, which was passed in 2022. … Continue Reading… Sweeping Reserve Fund...
” which establishes minimum amounts for the fund under a somewhat complicated formula. Also, because co-ops own the buildings as real property—unlike condos—they have other financial options, such as refinancing a mortgage
There is no simple formula for determining the proper level of reserves. Many co-ops and condos maintain a reserve fund by falsely using informal rules of thumb (i.e., three or six months of maintenance), which may not be sufficient. In order to determine the proper level of reserves, a...