How Often Should an HOA do a Reserve Study in Florida?

A reserve study is an analysis of the major components of a condominium or cooperative building and the estimated costs of future repairs and replacements. It is an important tool for homeowners associations (HOAs) to assess the financial health of their buildings and to plan for future expenses.

In Florida, HOAs are required to have a reserve study performed every 10 years. However, some associations may need to have their studies updated more frequently, depending on the age and condition of their buildings. For example, a building that is nearing the end of its useful life may need to have its reserve study updated more often.

By having a reserve study performed regularly, HOAs can help to ensure that they have the financial resources they need to maintain their buildings and keep their residents safe.