What is generally included in a reserve fund for a condominium?

The correct answer is the option that refers to funds specifically for future building repairs. In the context of condominium management, a reserve fund is a pool of money that is set aside by the condominium corporation to ensure that adequate resources are available for long-term maintenance and repair of the building's common elements. This includes significant expenses such as roof replacement, elevator repairs, and other major renovations that are necessary for maintaining the overall integrity and safety of the building.

Having a well-funded reserve allows a condominium to manage unexpected repairs without requiring special assessments from unit owners, which can lead to financial strain. It demonstrates prudent financial planning and risk management in property administration.

The other options do not align with the purpose of a reserve fund. Funds for social activities, operational expenses, and marketing campaigns are focused on day-to-day operations or enhancements rather than preparing for the long-term maintenance and repair needs of the building itself. Therefore, they do not qualify as appropriate uses for a reserve fund.