Keeping Adequate HOA Reserves

It’s hard for some homeowners to understand why dues are collected, or even increased, when an HOA already has funds held in reserve. However, reserves must be adequate, and a vote not to reserve is likely a vote for a special assessment in the future. An association must protect its common elements through the proper funding of association reserves. Pre-planning can save money, relieve stress and save time. Adequate reserves help keep a property well maintained, and adds to the safety and sec [...]