Should HOAs Use Reserve Funds to Fill a Budget Gap?
COVID-19 has brought economic hardships to individuals and businesses across the world. Community associations are no exception. For example, there are increased cleaning and maintenance protocols, and higher expenses along with it. At the same time, dues collection can be challenging. Owners cringe at special assessments. Communities may be looking at reserve funds to cover some of these expenses. Reserve funds are typically set up to prepare for future expenses. However, with hardships occurri [...]