Good question. While I’ve answered this other places before such as in our document library, which can be found here, it is a common enough question that it deserves being answered repeatedly. Reserve contributions typically comprise 15-40% of an association’s … Continue reading → The post How often Should we Update our Reserve Study? appeared first on Association Reserves. Read More
Continue ReadingIs there Ever a Reason to Replace a Component Early?
Interesting question, with an answer that is not obvious. Most associations deal with the problem of replacing components too late, resulting in deferred maintenance and related costs that make the project much more expensive than if it was done on … Continue reading → The post Is there Ever a Reason to Replace a Component Early? appeared first on Association Reserves. Read More
Continue ReadingShould a Reserve Fund Policy Ever be Unfair?
So much of the field of Reserve Studies and reserve fund budgeting is about being fair. The core goal is attempting to have the owners enjoying the use of the association’s assets pay for the deterioration that occurred to those … Continue reading → The post Should a Reserve Fund Policy Ever be Unfair? appeared first on Association Reserves. Read More
Continue ReadingReserve Studies – Where the Client is Not Always Right!
Conventional wisdom says the client is always right. Customer service principles support that concept: please the client, nurture relationships for repeat business, etc. But what if it is your job to provide professional counsel, and the nature of the news … Continue reading → The post Reserve Studies – Where the Client is Not Always Right! appeared first on Association Reserves. Read More
Continue ReadingWhat can Reserve Funds be Used For?
Good question! There are two ways to answer a question regarding the appropriate use of Reserve Funds, depending on how it is asked. Boardmembers and managers of condos, HOAs and other forms of community associations are often confronted with a … Continue reading → The post What can Reserve Funds be Used For? appeared first on Association Reserves. Read More
Continue ReadingCan you (still) Revise our Reserve Study?
Sometimes, the answer is no. Yesterday a former client asked about their Reserve Study which we completed back for their 2010 Fiscal Year. They recently found out that the short maintenance road to the adjacent water tower is their responsibility … Continue reading → The post Can you (still) Revise our Reserve Study? appeared first on Association Reserves. Read More
Continue ReadingThe Four Reserve Rules
In preparing to speak to two different audiences in two days, both made up of new boardmembers and new managers, I wanted to make sure I was communicating the simple truths about Reserve planning. It forced me to get down … Continue reading → The post The Four Reserve Rules appeared first on Association Reserves. Read More
Continue ReadingUnderfunded Reserves – the $10 Solution!
In a recent webinar, an attendee remarked how simple it seemed to get on the path to appropriate Reserve funding. They were right! The problem of underfunded Reserves in community associations across the country can eliminated in five years with … Continue reading → The post Underfunded Reserves – the $10 Solution! appeared first on Association Reserves. Read More
Continue ReadingIs 10% of Budget to Reserves a Law?
Click here to see a list of laws we compiled from across the country with respect to Reserves. While 30 states have some legal requirements, the “10% of budget to Reserves” is not a law. But it’s something you want … Continue reading → The post Is 10% of Budget to Reserves a Law? appeared first on Association Reserves. Read More
Continue ReadingReserve Contributions – They’re Not About the Future!
One of the biggest misconceptions about Reserve contributions I hear, even more than “they’re too much” or “we can’t afford them” (which I’ll address in another post), is that they are for the future. I don’t know how I can … Continue reading → The post Reserve Contributions – They’re Not About the Future! appeared first on Association Reserves. Read More
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