Helping you understand community association business with industry leading insight.
Three Keys to Assuring the Most Efficient Use of Reserve Funds
Community leaders, as defined within the Community Associations Institute’s Rights and Responsibilities for Better Communities, “have a responsibility to fulfill their fiduciary duties to the community they serve and to exercise discretion in a manner they reasonably believe to be within the best interests of their community.”
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Three Reasons Why Your Condo Association Needs a Reserve Study
If you love where you live and your condo association is pretty great too, a reserve study can help ensure everything stays that way for you and others who live there after you.
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What to Look for in a Reserve Study Provider
Anyone on a board of an HOA or condominium association knows the tremendous value of a quality reserve study. Equally important is partnering with an experienced and qualified reserve study provider. But what makes a good reserve study provider?
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Understanding and Utilizing Your Reserve Study to Ensure Long-Term Success
It is estimated that more than 22 percent of the U.S. population resides in community associations. According to Community Associations Institute’s latest statistical review, these residents are represented by roughly 346,000 community associations.
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Insurance Appraisals Minimize Risk
We are all much more familiar with insurance appraisals as it relates to buying our individual home, but there tends to be less clarity around the function of an insurance appraisal as it relates to homeowner and condominium associations.
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What is the Purpose of Reserve Funds?
Common-interest developments or community associations are the fastest growing housing sector today. These types of associations exist as condominiums, cooperatives, vacation timeshares, planned unit developments and more. According to the Community Associates Institute, as of 2020, over 25% of the entire US population lived in a community association.
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What Percent Should HOA Reserves Be Funded?
We’re often asked “what percent should HOA reserves be funded?” The short answer is that there is no “one size fits all” benchmark for measuring the health of your community association’s reserve funds when it comes to applying the percent funded model.
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Managing Capital Projects and Reserve Fund Activity in Times of Economic Uncertainty
It is more important now than ever to not lose sight of maintaining your association’s physical and financial health.
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How Preventative Maintenance Saves Condominium Associations Time and Money
For property owners, condominium associations, and homeowner associations (HOAs), the longevity of components on their property is incredibly important.
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Financing Capital Replacement Projects
In a perfect world every Association would have an adequate level of reserves to cover the cost of future capital replacement projects.
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The Importance of Updating Your Reserve Study
Weather plays a large role in the repair and replacement schedule of an Association’s common elements, which in turn affects the financial profile of the Association.
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How Often Should You Update Your Reserve Study?
Keeping your reserve study up-to-date is critical to enabling boards to make informed decisions that maintain the investment of homeowners.
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Reserve Studies: The Key to Harmonious Community Living
What is an association board’s role in serving their community association? Can a board accurately navigate changing needs related to replacement schedules and funding needs?
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Reserve Studies: The Foundation to Your Association’s Long-Term Financial Strategy
All too often Associations disregard the need to have their reserve studies updated. Or, worse yet, never have a reserve study completed at all.
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Reserve Studies For The First Time Buyer
It is budget time for many associations and boards are updating their reserve studies. Many others have never had a professional reserve study and are now considering investing in their first one.
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Integrated Maintenance Programs
Maintenance of condominiums, townhomes, and planned-unit developments is often left to the expertise of professional management. Everyone understands the need to cut the grass, landscaping, paying the utility bills, etc.
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