RESERVE STUDY FLORIDA
Expert Reserve Study Services for Florida Condos and HOAs
Secure your association’s financial health with J. R. Frazer’s expert reserve studies tailored to Florida’s Chapter 718 requirements. Navigate your association or cooperative’s future with confidence.
Purpose and Meaning of Reserve Study/Analysis
Types of Reserve Studies We Provide
Full Reserve Study
This includes an initial on-site visit and a detailed assessment of all your property’s components, offering a complete overview of future financial requirements.
Reserve Study with Site Inspection
Periodic on-site reviews to update the reserve study, reflecting any changes or maintenance performed since the last assessment. This report is completed once every 3rd year, starting with the previous on-site visit of the association.
Reserve Study Without Site Inspection
An update based on documents and information provided by the property manager, adjusting for inflation and other changes without an on-site visit. This is typically completed in between site visits.
Structural Integrity Reserve Study (SIRS)
For buildings three stories or higher in height, J. R. Frazer offers a structural integrity reserve study in Florida, which is essential for budgeting for monies required to ensure the safety and longevity of key structural elements. This service ensures compliance with Florida’s stringent building safety requirements, providing a detailed analysis of critical components such as roofing, painting/waterproofing, and fire safety systems.
Among the reserve study companies in Florida, our reserve study services cater to residential and commercial condos and HOAs, offering tailored solutions that ensure financial preparedness and compliance for all types of communities while adhering to Florida’s condominium and HOA reserve study requirements.
Parts of a Reserve Study
A reserve study consists of two main components
Physical Reserve Analysis
The Physical Reserve Analysis involves a thorough site visit to identify and quantify the property components needing future replacement or maintenance (roofing, recreation areas, interiors, and mechanical systems), estimating their valuable lives and replacement costs. This is the first crucial step in preparing both the HOA and condominium reserve fund studies.
Funding Financial Analysis
The Funding Financial Analysis then examines the association’s current reserve funds against these estimated capital costs to determine future funding needs, ensuring a sustainable financial strategy for maintaining property values.
Sample Reports
Explore our Sample Reports to gain insights into the depth and detail of our reserve studies. They showcase our commitment to thoroughness and clarity.
Florida Statutes on Reserve Study Requirements
Florida Statutes Chapter 718 mandates a reserve budget, including reserve accounts for capital expenditures and deferred maintenance. These accounts must include but are not limited to, roof replacement, building painting, and pavement resurfacing, regardless of the deferred maintenance expense or replacement cost, and any other item with a deferred maintenance expense or replacement cost that exceeds $10,000. The reserve amount must be computed using a formula based on the estimated remaining useful life and estimated replacement cost or deferred maintenance expense of the reserve item. A Structural Integrity Reserve Study for condominiums must be updated at least once every ten years, focusing on critical structural components to ensure safety and compliance, aligning with Florida’s condo reserve study requirements.
Ready to Plan for Your Association's or Co-op’s Future?
Our expert team specializes in conducting detailed reserve studies for Florida condominiums and HOAs, confidently helping you plan future repairs and upgrades. A tailored Traditional and SIRS Reserve Study ensures your association’s financial stability and compliance.
Contact us today to get started on your condo reserve study in Florida.