Reserve Study & Funding Trends: What Board Members and Managers Should Take Away
Recently, the Foundation for Community Association Research released a Snap Survey looking at reserve study and reserve funding trends across community associations. This survey provides a helpful pulse check on how associations are approaching reserve studies and funding, and where the biggest friction points remain.
READ MORESigns Your Association is Underfunded
While there are obvious indicators of underfunding, others are less visible but just as detrimental. So, what exactly are the signs of an underfunded condo association or HOA?
READ MORECondominium Financial Management: Integrating Reserve Studies for Long-Term Success
Managing the finances and reserve funds of a condominium association involves more than just paying bills and collecting dues; it also entails maintaining a comprehensive financial plan to ensure long-term stability and protect property values.
READ MOREThe Rising Cost of Inaction: How Industry Trends Are Elevating Capital Planning
With personal budgets tightening, every decision is under greater scrutiny, from dues increases to the timing of capital projects. While temporarily limiting assessment increases or delaying projects may seem like a low-risk way to support residents in the short term, the potential consequences can be far more significant.
READ MORECommunity Associations: Engaging Residents in Reserve Planning
Reserve planning is a pillar of responsible and effective management of any community association, but the process is often a mystery to those who fund reserves – the residents.
READ MORECase Study: How Engagement Leads to More Actionable Reserve Studies
In 2022, a prominent 36-story high-rise condominium association and its adjoining garage association in downtown Chicago completed their first reserve study. Unfortunately, the firm they chose to complete this study left the board questioning the quality and usability of the report, leading the association to doubt the value of reserve studies altogether.
READ MORECapital Planning for HOAs: How to Build a Long-Term Funding Strategy
Capital planning is one of the most important, if not the most important, responsibilities of an HOA board. Going beyond the day-to-day routine operation of the community, capital planning focuses on the long-term physical and financial health of the community, as well as proactive planning for the replacement of major community assets.
READ MORECase Study: Building a Foundation for Long-Term Asset Management
Whether an association has 300 units or 30, managing and planning for the maintenance and reserve funding for community components is never an easy task. Even small associations will face large-scale projects, and without the foresight to prepare for them, boards may find themselves in a sticky situation.
READ MORECondominium Associations: Best Practices for Reserve Studies
Here, we will discuss best practices for condominium associations, challenges you may face along the way, and how to ultimately use your reserve study to lead your community to a prosperous future.
READ MORECase Study: A Decades-Long Case for Reserve Study Updates
No matter how long an association has been established or how many reserve studies they’ve completed, even the most experienced properties face challenges that only periodic reserve study updates can help mitigate.
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