Tags: Reserve fund basics

Hey there, fellow condo owners! Have you ever wondered about the financial health of your HOA? I sure didn’t, until I learned a valuable lesson about the importance of having adequate reserves on-hand. Let me share my personal experience with you and shed some light on why every HOA should prioritize this crucial task. A few years back, our community was hit with a major unexpected expense when

When it comes to reserve fund planning there are a lot of interesting rule of thumb approaches many of us have heard over the years. “Set aside an amount equal to 10% of the annual operating budget”, “Do a special assessment of $100K to add a reserve buffer”, are just a few of the less than analytical approaches to reserve fund planning out there. Generally, what these approaches say is