Avoid These Common Reserve Study Mistakes

A reserve study’s main goal is to give the HOA board and administration a clear sense of what large expenses to anticipate and when. It’s crucial for board members who are new to association leadership to become familiar with a crucial instrument for long-term planning. Here are some common traps to stay away from. To establish an appropriate and equitable level of money for maintaining and eventually replacing capital assets, a reserve study typically involves a physical and financial analysis of jointly owned HOA property over a 30-year time horizon. The HOA board and administration will receive a clear understanding of the primary expenses to be anticipated as well as when to anticipate them.

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