A. The reserve fund is established so that the HOA can build up money to offset the ongoing deterioration of common area components included in the HOA’s reserve study. If the reserve study included ...
When you own commercial property, you set aside funds in a designated bank account so you can cover the expenses related to repairs and improvements, known as replacement reserves. The reserved funds ...
Learn the essentials of reserve funds, their role in financial stability, and their use in managing unexpected and planned ...
A Tampa condo roof caves in mid-hurricane season. No reserve fund. No backup plan. Just angry emails, emergency fees, and a board scrambling to stay afloat. Now flip it: same storm, but the fix is ...
We need an updated reserve study. What should we do? If your reserve study must be updated in 2024 or 2025, you should contact the association’s engineer now and get on the schedule. If your reserve ...
Q. I am on the board of directors of a mid-rise condominium association. For at least the last 20 years, the association has not had a reserve study. The current board is split as to whether to ...
Last time I explained why the need for a Reserve Study exists. This time, some ideas of what you should have in one. First, as a reminder, a reserve study is simply a better budget planning tool that ...
Q: Our homeowners association will be having a reserve study soon. There is very little useful information about reserve study specialists to be found at the Nevada Ombudsman's office. Is there a list ...
Q. I am a new treasurer of a small condominium association in the Lincoln Park area. We just completed the first reserve study since these buildings were converted in the 1980s. Not only is the ...
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