Use Reserve Study to Keep Contributions at Pace of Deterioration
No matter how high the quality of the homes and amenities in your community is, it’s inevitable that over time they’ll need maintenance to keep up their appearance and performance. Ultimately, some will need to be replaced—and members will be required to pay for the expense. It’s tempting to put off contributing to repairs; members, and especially those who are feeling a financial pinch, might argue that the replacement and maintenance of items that are currently in fine working order is an issue that can be dealt with in the future.
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Community Association Management Insider helps community association managers keep their co-ops, condominiums, and homeowner’s associations running effectively and within budget — and all in the bounds of state, local, and federal law, as well as their governing documents.
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