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…
What is capital improvement? How is it different from maintenance and repairs? These are two very common questions asked by homeowners. To understand where part of your monthly association dues goes, here’s what you need to know about capital improvements. What Are Capital Improvements? Capital Improvement Definition. A capital improvement is a structural addition or…