HOA - How To Start Your Reserve Study
A blog article about how to start your reserve study for HOA . There are some basic steps that you should follow before getting started on the process, including what you need to know about reserve requirements and qualifications of your HOAs. What is a reserve study? A reserve study is a way to save money on your home association dues. When you study your reserve, you're able to see what needs to be done in order to keep the property up and running, and then make sure that these repairs are scheduled in during off-peak seasons. This can lower your overall dues bill. Who does a reserve study for ? When completing a reserve study, it is important to know who should be doing the studying. Guidance can come from those within your organization who are responsible for budgeting, asset management, and legal proceedings. Oftentimes, the treasurer or general manager is the best person to lead the charge on a reserve study as they have intimate knowledge of both the financial and legal aspe...