Reserve Study Laws By State
As a homeowner association (HOA) board member or a member of a condominium association, understanding the legal landscape surrounding reserve studies is crucial. Reserve studies are critical tools for ensuring the long-term financial health of your community, enabling you to anticipate and budget for major repairs and replacements of common elements. However, navigating the specific […]
How Reserve Studies Can Save Your HOA Money
As an HOA board member, you’re entrusted with the responsibility of maintaining and enhancing your community’s assets and infrastructure. This includes ensuring that the necessary funds are available for future repairs and replacements. But how do you plan for these inevitable expenses and avoid imposing hefty special assessments on homeowners? The answer lies in conducting […]
Frequently Asked Questions About Reserve Studies
Reserve studies play a vital role in the financial health and long-term planning of homeowners associations (HOAs) and condo associations. They serve as a roadmap, guiding associations in effectively budgeting and planning for future repairs and replacements of common elements. However, despite their importance, reserve studies often raise questions and uncertainties. This article aims to […]
What’s Included In A Reserve Study
A reserve study is a critical tool for homeowner’s associations (HOAs) and condo associations, acting as a financial roadmap to navigate the often-turbulent waters of future repairs and replacements. It empowers communities to plan ahead, ensuring they have adequate funds when major expenses arise. Let’s explore the intricacies of a reserve study, its significance, and […]
How To Manage Your Reserve Funds
Managing your association’s reserve funds effectively is crucial for ensuring the long-term financial health and stability of your community. Whether you’re part of a homeowner or condominium association, understanding how to allocate and manage these funds can make a significant difference in your association’s ability to maintain its assets and meet future expenses. In this […]
Reserve Study Terminology 101
Understanding the terminology used in reserve studies is crucial for community association members, board members, and property managers. A reserve study is an essential tool for effective financial planning and property management. However, at ReserveWise, we understand the complexities that come with the terms you need to know to get your reserve study right. To […]
What Is A Reserve Study?
Managing a homeowner or condominium association requires careful planning and foresight, particularly when it comes to maintaining and repairing common property elements. One of the essential tools for this planning is a reserve study. As a new board member, you may be asking, what is a reserve study? How do you pull one off successfully […]
Top Mistakes To Avoid When Conducting A Reserve Study
Conducting a reserve study is crucial for any homeowner association (HOA) or condominium board. It involves planning for the future maintenance and replacement of major common area components, ensuring the association’s financial health, and preventing unexpected financial burdens on members. However, association boards are made up of willing volunteers that are passionate about making positive […]
How Often Should A Reserve Study Be Done
A reserve study is a critical financial tool for homeowners associations (HOAs) and condo associations. It helps your community plan for future repairs and replacements of major components like roofs, elevators, and HVAC systems. But how often should you conduct a reserve study? Let’s dive in. How Often Should A Reserve Study Be Performed While […]
