Comprehensive Reserve Studies by a Qualified Licensed Professional
Level I, Full
A reserve study in which the following five tasks are performed. This type of study includes the preparation of all five portions of the study based on both the reserve study provider’s on-site evaluation and on information provided by the client and other subject matter experts, as applicable:
- Component inventory
- Condition assessment
- Life and valuation estimates
- Fund status
- Funding plan
Florida Statutory Requirements: Standard Reserve Study
Per Condo Statute section 718.112 (2)(a):
In addition to annual operating expenses, the budget must include reserve accounts for capital expenditures and deferred maintenance. These accounts must include, but are not limited to:
a) Roof replacement
b) Building painting
c) Pavement resurfacing
d) Any other item that has a deferred maintenance expense or replacement cost that exceeds $10,000