Category: Guidelines and Legislation

Condo Association Reserve Fund Guidelines

Condo Association Reserve Fund Guidelines

Do we have enough or too much money in our reserve account? To answer this question, we should begin by explaining the method by which an association’s reserve funds are measured. Percent funded as defined by National Reserve Study Standards is “The ratio, at a particular point of time (typically the beginning of the Fiscal…

Read More Read More

How often should a Reserve Study be updated?

How often should a Reserve Study be updated?

A Reserve Study is a budgeting tool that assess the financial and physical health of associations. One of the responsibilities of the Board of Directors, is to act in good faith and in the interest of and for the benefit of the association. This would include managing association financial matters today and in the future.…

Read More Read More

HOA Reserve Fund Laws: A Beginner’s Guide

HOA Reserve Fund Laws: A Beginner’s Guide

This article provides a brief guide about hoa reserve fund laws. You will find answers to common questions such as: Is a reserve fund required? How can we spend reserve funds? Is there a law requirement for how much should be in the reserve fund account? HOA reserve fund laws vary by state. This article…

Read More Read More

Capital Improvements vs Reserve Fund Expenses

Capital Improvements vs Reserve Fund Expenses

Capital Improvements: Capital improvements are projects where a new asset is added to the community. It is a project that, once installed, will then create operating expenses and future reserve expenses. A good example of a capital improvement type expense would be the installation of tennis courts when they do not already exist. Capital improvement…

Read More Read More

© 2022 Reserve Studies For HOAs