No, unlike condominiums under Chapter 718, Florida HOAs governed by Chapter 720 are not legally required to conduct reserve studies. However, if reserves are established for capital expenditures, they must be properly funded based on estimated costs, making studies a best practice for compliance and financial planning. At FPAT, we see this as an opportunity to avoid the villain of underfunding—let us guide you through a tailored study that turns potential headaches into confident compliance.

Industry experts, including FPAT's team of Florida-based specialists, recommend conducting a full reserve study every 3-5 years, with annual updates to account for inflation, asset changes, and maintenance needs. While not mandated by law, this frequency helps prevent special assessments and ensures long-term financial stability in Florida's challenging climate. Don't let the internal stress of "What if I mess this up?" keep you up at night—FPAT's clear process makes it simple to stay ahead.

Under Florida Statute 720.303(6), if an HOA establishes reserves, they must be calculated using a formula based on the remaining useful life and replacement costs of assets. Funding can be waived by member vote, but underfunding risks special assessments or legal issues—no specific study frequency is required. As your guide, FPAT helps you meet these requirements philosophically right: You shouldn't have to figure out Florida's regulatory puzzles alone. We provide the expertise to ensure your reserves are rock-solid.

Condominiums (Chapter 718) must perform Structural Integrity Reserve Studies (SIRS) every 10 years for buildings three stories or taller, with full funding required. HOAs have no such mandate, offering more flexibility, but both benefit from regular studies to manage repairs in storm-prone areas. FPAT specializes in both, bringing empathy for the unique pressures each faces and authority from countless successful studies—whether it's a traditional HOA reserve or a condo SIRS, we've got Florida's weather risks covered.

Costs typically range from $2,000 to $10,000, depending on community size, asset complexity, and whether it's a full study or update. In 2025, factors like inflation and post-hurricane regulations may increase prices—shop for certified providers like FPAT to ensure value. We know the external problem of rising costs feels unfair, but our tailored proposals make it affordable and worthwhile, delivering peace of mind without breaking the bank.

Yes, HOAs can waive or reduce reserve funding with a majority vote of members, but this increases risks like unexpected assessments. Experts like FPAT advise against waiving, especially given Florida's weather vulnerabilities—regular studies help justify keeping reserves intact. Imagine avoiding the failure of angry residents and legal headaches; that's the success FPAT helps you achieve by guiding you toward smart, funded reserves.

Regular studies promote financial transparency, mitigate risks from aging infrastructure, and avoid burdensome special assessments. In Florida's humid, hurricane-prone environment, they identify issues early, protect property values, and align with best practices from groups like CAI, even without legal mandates. At FPAT, we transform you from a frazzled leader drowning in demands to a calm, in-control hero with a secure community—because you deserve a guide who makes this easy.