Home Owner Associations and Condominium Associations are responsible for keeping the common areas of their property in good working order. As these communities age or as unforeseen acts of God or accidents happen, sometimes an unexpected repair or replacement needs to take place. For this reason, reserve funds are not optional, but an important part […]
Tag Archives: Reserve Fund
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A Reserve fund is a crucial part of an HOA or COA’s financial plan. For every budget that is planned by a COA, a reserve fund is very much needed. “How much money should a COA have?” This question is often thrown to COA members. Similar to corporations and businesses, COAs utilize reserve funds to […]