Reserves and funding
Every board argues about dues. This guide replaces the argument with numbers: what your reserve study says, how reserve funds differ from operating cash, what underfunding actually costs, and when a special assessment is the honest answer.
You joined the HOA board to make a difference, and that’s great! You also joined to have some fun. And that reserve study doesn’t look like fun. It’s complicated, but the reserve study is nothing to fear. It’s also not something to avoid. It’s an important financial planning tool for your HOA and shared property. We…
Nobody enjoys paying fees. That’s just human nature. But it’s a lot less painful when you know where your fees are going, what they pay for, and how you benefit from their use. HOA funds are a perfect example. We may grumble when they’re due, but it helps when we know how they are used to benefit our community. Your…
So it looks like your homeowner’s association has some projects to be done. The roof on a common building is on year 15 of its 20-year lifespan. The pool house needs painting. And hasn’t there been talk of building some new walkways in the greenspace? How do you know if your HOA has the money to fund these big projects…
Preparing a budget for the new fiscal year can seem like a daunting task. Especially if you are a volunteer board member trying to find the time and the patience to put together your HOA budget. If you are struggling to get started with preparing your HOA budget, check out the tips in this article below! Budget…
The one thing every homeowner in an HOA agrees on is that they don’t want to pay extra fees. There may be disagreements over what those fees pay for, but no one ever asks to pay more. But unexpected costs are part of HOA life. That’s why you need to know about special assessments. What is a Special Assessment? A…