Why put more money into your Reserve Fund than necessary? I can’t think of a good reason! You don’t want to make Reserve contributions that err on the side of being too little, that may lead your Association toward a Special Assessment, borrowing, or the even higher costs that come with deferred maintenance.
Special Assessments are the typical unwanted consequence when an Association is surprised by significant expenses that are larger, or earlier, than expected.
This is a very common question. Most Boards want to know how their Reserves are doing, and, more specifically, how their Reserves are doing “compared
Winston Churchill said “Saving is a very fine thing, especially if your parents have done it for you!” But how much “savings” does it take
The four-part test for determining if a component is appropriate for Reserve Funding is as follows: Is it a common area maintenance responsibility? Is it
Many Boardmembers and Managers at this time of year are asking themselves this very question. With Reserve contributions making up 15% to 40% of the
