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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 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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