Category: Guidelines and Legislation

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.…

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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…

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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…

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