Inflation can increase the cost of roofing, pavement, elevators, mechanical systems, and other HOA reserve projects. Learn how updated reserve studies, realistic cost assumptions, and gradual reserve funding adjustments help associations prepare for rising costs.
New HOA board members need a clear foundation in reserve studies, funding goals, governing documents, maintenance planning, and fiduciary responsibility. Use these strategies to build confident, informed board leaders who can make better long-term financial decisions.
Is it time to maintain or fully replace? Which components take priority? How do you save money for your HOA homeowners properly? We’ll give you a handful of real-life examples so you can see how our experts would handle even the most expensive projects!
As an HOA board member, you’re tasked with a monumental responsibility: ensuring the financial health and physical well-being of your community. One of the most critical aspects of this role is effective reserve funding. Underfunded reserves can lead to financial crises, unexpected special assessments, and a decline in property values.
Association Reserves founder Robert Nordlund, PE, RS expresses how reserve funding legislation is only one part of the solution to chronic underfunding, deferred maintenance, and long-term community risk.
A successful HOA reserve funding plan balances the need for long-term financial stability with the realities of today’s budget constraints. By aligning future project costs with adequate contributions, associations can avoid special assessments and maintain property values.
