Reasoning With Reserves
Emergency special assessment are three words no HOA homeowner or board member wants to hear.
You need to make sure you are funding reserves every year for that next replacement. A reserve study is only useful if it’s accurate. No matter how complex your reserves become, HOA board members can do their part with these checks:
● Are all reserve components listed?
● Does the amount reflect what you have paid or have a proposal for?
● Is your HOA 100% funded?
● Are you still meeting your annual funding requirement even if the HOA is 100% funded?