What happens if the cost of repairs is greater than the funds in my maintenance account?
Should we receive notification that a repair is likely to exceed the maintenance reserve amount, we will contact you for approval before commencing. Should it be an emergency repair, we can authorize the repair with the vendor on site. In this case, we would notify you as soon as practical and would expect prompt payment. Under Florida Statute, we are not allowed to pay for repairs when there are not adequate funds in the owner account to cover the cost. In all cases, the expectation is for you to immediately contribute additional funds to cover repairs that exceed the maintenance reserve amount.