It is best practice for homeowners associations to establish and maintain a reserve fund. But, if you have never encountered the subject, understanding your reserves can be somewhat difficult. When it comes to your reserve fund, it pays to know the HOA reserves rule of thumb. All About HOA Reserves Rule of Thumb Before you…
Reserve studies are an integral part of maintaining a healthy HOA reserve fund, but many associations underestimate just how important it is. Here is what you need to know about your association’s reserves and how a reserve study affects them. The Purpose of an HOA Reserve Fund What is an HOA reserve? Also known…
The homeowners association budget is a major responsibility for the board. Creating an accurate and well-thought-out budget ensures the financial health of your community — not just for the next fiscal year, but for many years to come. For new board members who are not yet familiar with this process, here are HOA budget guidelines…