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What is Included in a Reserve Study?

A Reserve Study is made up of two parts, as defined by Community Associations Institute (CAI) and the Association of Professional Reserve Analysts (APRA) – the Physical Analysis and the Financial Analysis of the common elements.

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Are Your Reserves Fully Funded?

Are your reserves fully funded? It’s a great question, but at the risk of making this sound like a legal blog, it depends. In order to answer the question accurately, we first have to define the term fully funded.

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What Does a Reserve Study Do?

A Reserve Study is a long-term budget planning tool that identifies the common elements belonging to an Association, and recommends a funding plan to maintain, repair or replace these common elements over a specified time period.

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Three Keys to Assuring the Most Efficient Use of Reserve Funds

Community leaders, as defined within the Community Associations Institute’s Rights and Responsibilities for Better Communities, “have a responsibility to fulfill their fiduciary duties to the community they serve and to exercise discretion in a manner they reasonably believe to be within the best interests of their community.”

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What to Look for in a Reserve Study Provider

Anyone on a board of an HOA or condominium association knows the tremendous value of a quality reserve study. Equally important is partnering with an experienced and qualified reserve study provider. But what makes a good reserve study provider?

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Insurance Appraisals Minimize Risk

We are all much more familiar with insurance appraisals as it relates to buying our individual home, but there tends to be less clarity around the function of an insurance appraisal as it relates to homeowner and condominium associations.

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What is the Purpose of Reserve Funds?

Common-interest developments or community associations are the fastest growing housing sector today. These types of associations exist as condominiums, cooperatives, vacation timeshares, planned unit developments and more. According to the Community Associates Institute, as of 2020, over 25% of the entire US population lived in a community association.

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What Percent Should HOA Reserves Be Funded?

We’re often asked “what percent should HOA reserves be funded?” The short answer is that there is no “one size fits all” benchmark for measuring the health of your community association’s reserve funds when it comes to applying the percent funded model.

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