Property Management
A Florida condominium association must maintain reserves for:
AOnly emergency repairs
BCertain deferred maintenance items (roof, painting, paving, etc.) as required by Chapter 718 F.S.✓ Correct
CAll capital improvements regardless of useful life
DReserves are optional for Florida condominiums
Explanation
Chapter 718 F.S. requires Florida condominium associations to fund reserves for capital expenditures and deferred maintenance items (roofing, painting, paving, and other components with remaining useful life). Owners can vote to waive reserves annually.
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