HOA boards are responsible for the well-being of the communities they oversee. Ultimately, their tasks are twofold: to protect and enhance the property’s value and to inspire a sense of community and belonging. Board planning decisions are focused on these goals, ostensibly to protect property values, enhance safety and comfort for residents, and generally ensure
Biggest Reserve Fund Planning Mistakes HOA Boards Can Make Read More »
Every HOA has a reserve fund set aside for future expenses, both expected and unexpected. These could include building repairs, equipment replacements, major landscaping projects, new construction, renovations, roof replacements, or periodic upgrades of the HOA-controlled common areas. The reserve is separate from the operating fund and used for day-to-day expenses, ongoing maintenance, upkeep, admin
HOA Reserve Funds Explained Read More »
In past articles, we’ve talked some about HOA reserve funds, but mainly in the context of other overarching issues, such as the difference between reserve funds and operating funds. So today, let’s dive deeper into reserve funds to answer some common questions and shed some light on best practices around managing reserve funds. What is
What You Need to Know About HOA Reserve Funds Read More »
