It's critical for Board members to understand the nature of this fee and to convey its importance to owners and potential owners alike adequately.
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Reserve studies serve many purposes. Read on to learn more about the purposes that a reserve study provides to an HOA community.
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An HOA reserve study is essential in examining and maintaining the financial health of your association. Find out what a reserve fund study is, and how will it help your community.
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Budgeting is vital to the success of your homeowners' association (HOA) and can prevent your community from facing financial troubles. Here are some tips to ensure that your community association is proactive, prepared, and adequately plans for the future.
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This post focuses on the following question: How should HOAs allocate reserve fund contributions between the community's portion completed and future planned build-outs?
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Whether your association plans for the expense or not, equipment, and other significant components, such as roofs, must be replaced from time to time. This statement is especially true if your HOA offers various amenities, such as pools, playgrounds, and workout facilities. For this reason, your HOA should have reserves to plan for the unexpected.
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