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4. HOW MUCH MONEY SHOULD
AN HOA HAVE IN ITS RESERVE
ACCOUNT?
There isn't a "one-size-fits-all" amount HOAs should have in reserve. Instead, your reserve
amount will depend entirely on your community's needs, size, type, location, and many
other factors. For example, a condo association with shared roofs, pools, and other
expensive amenities may require far more funds compared to a small, single-family home
community with limited common property or anticipated repairs.
To determine how much your community needs, crunch some numbers. Find out what your
association owns, estimate how much time you have until components need to be replaced,
and then calculate how much everything is going to cost. A simple, straightforward way to
figure out these details is by conducting a professional reserve study.
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