The phrase “Special Assessment” can be a dirty word around a community association. It essentially means that all members of the association pay their fraction of the cost to repair or replace something around their community at one time. On the surface it seems like that may be an okay way to find the funding […]
reserve failures
Most Common Reserve Funding Mistakes
1. Not getting the proper reserve items on the reserve schedule. This is the most common mistake associations make when budgeting for reserves. They unknowingly omit some items that should be on the schedule. Most associations are aware of roofing, painting, and paving requirements, but some items that are not often thought about are the hidden […]