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Milwaukee, WI 53202
800-221-9882
Helping you understand community association business with industry leading insight.
If you love where you live and your condo association is pretty great too, a reserve study can help ensure everything stays that way for you and others who live there after you.
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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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It is estimated that more than 22 percent of the U.S. population resides in community associations. According to Community Associations Institute’s latest statistical review, these residents are represented by roughly 346,000 community associations.
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What is an association board’s role in serving their community association? Can a board accurately navigate changing needs related to replacement schedules and funding needs?
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It is budget time for many associations and boards are updating their reserve studies. Many others have never had a professional reserve study and are now considering investing in their first one.
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As the community association industry continues to realize explosive growth – 70 million Americans now live in a planned community vs. 10 million nearly 40 years ago.
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Every community association has three functions – to serve as a business, a government and a community. Community associations are generally nonprofit corporations, functioning in many ways as businesses with revenues (association dues, clubhouse rentals, revenues from golf course or restaurant, etc.) and expenses.
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If you’re looking to buy a Condominium, you may have a lot of questions about Association living.
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