Funding strategy

For loan applications dated on or after January 4, 2027, condo budgets must send 15% of assessment income to reserves — or show a current reserve study funded at its highest recommended level. Here's the timeline, the math, and the board checklist.

Most boards flip straight to the contribution table. The percent-funded figure tells you more: what it measures, how it's calculated, what the bands mean, and the honest limits of the number.

The honest answer isn't a dollar figure — it's a fraction. Here's how percent funded defines "enough," what the new lender rules require, and how to work out the real number for your community.

So you’re getting ready to prepare your HOA’s budget. You and your fellow board members and homeowners are going to make big decisions that will affect the entire community. The budget preparation process can feel daunting and it is arguably the most important job of the HOA board. Budgets are more than just numbers…

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…

Dan Stondin CEO, homey.io On June 24, 2021, at approximately 1:22 in the morning, Champlain Towers South, a 12-story beachfront condominium in the Miami suburb of Surfside, Florida, collapsed. Ninety-eight people lost their lives. Only six years earlier, in Berkley, California, a balcony collapsed and killed six…

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…

We all know that inflation is affecting lives across the country right now. But have you ever thought about how it might affect your homeowners’ association? Like every other organization, your HOA operates on a budget. That budget determines fees and allocates resources for both short-term and long-term projects. It…

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…

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…