By Ivan Mora · Florida-licensed real estate agent, License #3454593 · Updated November 12, 2026
Monthly condo dues in Hollywood typically cover the association's operating costs — master insurance, management, utilities for common areas, maintenance — plus reserve contributions for future big-ticket repairs. Since Florida tightened reserve rules for older multi-story buildings, many associations have raised dues to fund reserves they once waived. When comparing buildings, open each budget and separate operating costs from reserves: a building with lower dues may simply be underfunding repairs that will later arrive as an assessment.
What's inside a typical condo budget
- Insurance — often one of the largest lines for coastal buildings.
- Operating costs — management, staff, common utilities, elevator and pool contracts, landscaping.
- Reserves — money set aside for components identified in the SIRS and other reserve items.
- Other — legal, accounting, bad-debt allowance.
Ask for the current adopted budget, not last year's.
Why reserve rules changed dues
§718.112(2)(f)–(g), Fla. Stat. links required structural reserves to the association's SIRS. For budgets adopted on or after December 31, 2024, qualifying unit-owner-controlled associations generally may not waive or reduce required SIRS reserves or repurpose them for unrelated expenses.
Current law permits specified funding methods and limited exceptions, including qualifying temporary contribution relief tied to milestone-recommended repairs through budgets adopted on or before December 31, 2028. Request the legal basis, member approval and revised funding schedule for any claimed relief. A blanket “reserves can always be waived” or “no exception exists” is misleading.
Higher dues do not prove mismanagement; lower dues do not prove adequate funding. Compare actual budgets, not an unsourced Hollywood average.
How to compare two buildings fairly
- Separate operating costs, structural reserves and other reserves in each adopted budget.
- Compare contributions and cash balances with the SIRS funding plan, including approved loans or assessments.
- Apply the declaration's allocation percentages; equal division by unit count may not match your unit's share.
- Identify charges outside monthly dues and any debt repayments.
- Compare master-policy scope and deductibles, not premium totals alone.
Use home affordability planning to combine dues, mortgage, taxes and unit insurance. Do not assume reserves must already equal every component's full future replacement cost.
Comparing two condos?
I'll help you line up the budgets side by side.
Send me the two buildings you're weighing and I'll help you request the budgets and reserve information you need.
Questions to put to the association
- Are SIRS reserves fully funded this year? If not, what is the plan?
- Has any reserve been waived or reduced by owner vote?
- Are dues expected to change at the next budget cycle?
- Is there a line of credit or loan being repaid through dues?
Sources and scope
- Florida Statutes §718.112 — reserve provisions — Verified reserve funding requirements and qualified exceptions
- Florida DBPR — Division of Condominiums — Orientation only
Statutory text checked November 12, 2026. Educational guidance, not legal, engineering, lending or insurance advice. Building-specific deadlines, repairs, funding and coverage require current documents and qualified professional review. No association costs, inspection outcomes or insurance quotes are assumed.