Informational, not legal advice. Your declaration, bylaws and specific facts matter. For decisions affecting your association, consult a Florida-licensed attorney or the DBPR Division of Condominiums, Timeshares and Mobile Homes. We are nonpartisan and take no position on legislation.
Reserves don't have to be fully funded right away. Unless there is an immediate safety problem, Florida doesn't require reserves to be fully funded the day a study is completed. The association must set aside enough each year to have the money available when the repair is expected, without reserves falling below zero. For example, a $100,000 roof due in 10 years is funded over time (DBPR FAQ).
Waiving reserves. For budgets adopted on or after December 31, 2024, waiving reserves or using them for another purpose takes a majority of the association's total voting interests (DBPR FAQ). Associations subject to SIRS requirements may not waive or redirect reserves for SIRS items: roof, structure, fireproofing, plumbing, electrical, waterproofing and painting, and windows and doors (DBPR FAQ; s. 718.112(2)(g)).
Pausing reserves (DBPR FAQ):
- After a natural emergency: if the local building official declares the whole building uninhabitable, the board may pause or reduce reserve funding.
- To fund repairs: for budgets adopted on or before December 31, 2028, an association that completed a milestone inspection within the previous 2 calendar years may pause contributions with majority approval of total voting interests. The money goes to the inspection's recommended repairs.
- The pause can last no more than two consecutive annual budgets.
- A new SIRS is required before contributions resume.
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