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IS YOUR ASSOCIATION
PROPERLY FUNDED?
For a homeowners' association (HOA) to succeed long term, its major components,
like elevators, clubhouses, and swimming pools, will eventually need to be repaired
or replaced. The funding for this comes from the money set aside in a reserve fund.
An HOA reserve fund is cash saved by a community association for additions to
components the association is obligated to maintain and future replacements and
repairs that don't happen regularly. While an appropriately funded reserve account is
crucial to a well-run association, some studies estimate that nearly 70% of HOAs in
the United States are underfunded. That means they lack the proper savings to pay
for major projects or parts.
As industry leaders, we at Associa know how essential reserve funds and studies
are to a community's financial well-being. In this ebook, we provide valuable answers
to commonly asked questions about reserves. Read on!
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