The Hidden Cost of Underfunded Reserves: What Florida’s Condo Real Estate Challenges Teach Us
Florida’s real estate challenges are not just a local issue—they are a lesson for us all. Underfunded reserves aren’t just a budgeting issue—they threaten community safety, financial stability, and long-term property values. By investing in their community today, associations can ensure a prosperous future.
READ MOREHow Do You Define Adequate Reserves?
Maintaining adequate reserve funds is crucial to keeping any community association running smoothly. But, what exactly are adequate reserve funds, and how do they impact the board, managers, and residents?
READ MOREHow Often Should A Reserve Study Be Done?
Updating your association’s reserve study is essential for the financial and physical wellbeing of the property and residents alike. Updates keep funding plans and repair and replacement schedules on track, and current and future homeowners will benefit from stable, equitable reserve contributions.
READ MOREEffective Stormwater Management: The Importance of Ponds in Community Associations
When it comes to stormwater management, it is incredibly important that associations have a system in place to avoid flooding in any area. Enter: ponds!
READ MOREFlorida Reserve Funding Methods: Component, Cash Flow, and Making the Switch
Funding using the component method was legally required in Florida for decades, but since the administrative code was adjusted in 2002, many associations have adopted the cash flow method, or pooled reserves. So, what are the component and cash flow methods, why would an association choose cash flow, and how do they make the switch?
READ MOREResidential Roof Essentials: Types, Maintenance, Best Practices, and More
Roofing systems are one of the most valuable components of your property, and they sure do take a beating to ensure that you remain sheltered. So, when it comes time to take care of your roof, what do you need to know, and what can you do to protect it?
READ MOREReserve Funds: Don’t Be Scared to Use Them!
Reserves, like any other savings fund, often have too little money at any given time, leading to issues such as special assessments or deferred maintenance. But unlike retirement accounts, which benefit from having as much cushion as possible, it is possible that reserve funds contain too much money.
READ MOREMitigating Financial Risk: Reserve Studies, Lending, and Insurance
In the ever-evolving landscape of community associations, one trend is becoming increasingly apparent: lenders and insurers are focusing on reserve studies. Traditionally overlooked and used as an internal planning tool, reserve studies are now capturing the attention of external individuals and institutions, particularly lenders and insurance companies.
READ MOREMasonry Maintenance: A Guide for Condos and Community Associations
Masonry and brick buildings are beloved for their enduring class and elegance, but much like any beautiful thing that is to be long-lasting, they require continuous maintenance. For condominiums and community associations overseeing such buildings, implementing technically sound maintenance protocols is crucial for not only preserving aesthetics but also for optimizing costs long-term.
READ MOREReserve Study Terminology
Throughout the reserve study process, you’ll hear a lot of terminology that may be unfamiliar to you. Whether you’re just learning what a reserve study is or you have your first report in hand, here is a list of the terms you need to know.
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