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Reserve Studies

Four Reserve Rules

Four Reserve Rules

THERE ARE FOUR RULES OF RESERVES that associations should know. Our company has pioneered foundational concepts & principles and provided extensive educational materials to the industry for over 35 years, but all can be distilled down to the rules below as the heart of planning for reserve projects at your association. Fundamental education is key to all of our success, as board members and professionals come and go over time.

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Reserves & Inflation

Reserves & Inflation

THE CONSUMER PRICE INDEX IS at a 40-year high of ~ 7% as of this writing. As we all know, that’s a big deal. Our data and research show inflation of the goods and services relating to the typical association reserve components (roof, paint, siding, windows, decks..) to have been compounding ~25% annually since 2020 – that’s a Really Big Deal.

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Investing & Protecting Your HOA Reserve Funds: The Right Way To Do It

Investing & Protecting Your HOA Reserve Funds: The Right Way To Do It

How you handle your HOA reserve funds really makes a difference in the successful running of your association. Managing HOA reserve funds is  important for the longevity and future investments of your association.

As a member of the board, it is your responsibility to stay on top of your reserve fund making sure it is regulated well and in the community’s best interests.

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Standards, Best Practices, and Public Policy Following Surfside Condo Collapse

Standards, Best Practices, and Public Policy Following Surfside Condo Collapse

The past two weeks have been devastating after witnessing the partial collapse of the Champlain Tower South condominium in Surfside, Fla., learning of the lives that perished, and seeing the tragedy’s impact on survivors and those in the immediate community. An investigation into the cause of the condo collapse is ongoing; standards of practice and legal requirements related to ensuring maintenance and structural integrity of condominiums understandably are coming under scrutiny.

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Replace Your Plumbing At 50 Years? 60 Years? Not So Fast…

Replace Your Plumbing At 50 Years? 60 Years? Not So Fast…

You may have been noticing an increase in the frequency of plumbing system replacement, at very high costs. Now that a significant portion of the housing stock we serve within Washington Community Associations has reached or is near the 50-year mark of life, expect that trend to continue. But what do you plan for in terms of timing, and cost? Why isn’t total replacement typically in your reserve study?

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A Strong Reserve Fund Is The Strongest Hedge Against Inflation

A Strong Reserve Fund Is The Strongest Hedge Against Inflation

What is a Community Association’s strongest hedge against inflation? A strong reserve fund! As of the end of April, 2021, increases in the pricing of lumber, asphalt binder , and other materials have risen well into the double digits when compared to the previous year. Costs for the “Big 9” projects (painting, roofing, asphalt, siding, windows, decks, plumbing, elevators, HVAC) are simply wild and unpredictable right now.

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Hitting a Moving Target: How to Stay on Budget this Fiscal Year

Hitting a Moving Target: How to Stay on Budget this Fiscal Year

Year after year, many associations struggle with the same concern: staying on budget. While there are certainly times where unforeseen expenses arise that send your budget into a tail spin no matter how proactive you were, there are a few steps your association can take to help your budget stay in the black by the end of the year.

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Reserve Study Washington: “The Top Six Components”

Reserve Study Washington: “The Top Six Components”

A reserve study is a budget and disclosure document, supplementing operating & maintenance budgets for the large expenses that don’t occur each year. In this busy world, focusing on a handful of key items in your reserve study may keep you out of costly trouble.

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Uncollected Assessments: HOA Budgeting for Bad Debt

Uncollected Assessments: HOA Budgeting for Bad Debt

Budgeting for bad debt is something that associations should consider doing even in the best of times. Saying that associations need only budget for uncollected assessments in a down economy would be as shortsighted as… well, not budgeting for uncollected assessments.

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Chapter Magazine

Journal June 2022

June 2022 Issue

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