HOA Reserves and Other Funding Options: Tips for Everyday Smart Money Management
An HOAleader.com Webinar for Condo and HOA Boards
Thursday, Sept. 14, 2023
2-3 p.m. Eastern
Money is one of the most contentious issues you’ll manage at your HOA. There’s always an owner—or many—who’ll challenge your financial decisions. Whether it’s how much money to collect from owners in assessments, how much money to spend on maintenance and repairs, or how much money to set aside in your reserves for those inevitable projects, your actions will be put under a microscope.
Keep calm and join our webinar for vital information on how you can effectively fund your association’s reserves in one-hour webinar on September 14 led by three community association experts—one a manager, one a lawyer, and one a reserves analyst.
They’ll explain what you need to know about HOA reserves and other funding mechanisms. They’ll also reveal the smartest moves you can make to ensure your HOA can pay for needed maintenance and repair projects and everyday HOA operations.
- The role of reserves at an HOA, including the new three-part test defining what’s appropriate to fund through reserves
- How state laws differ in requirements for reserves, ranging from states that don’t have any laws specifically governing HOA reserves to those that require reserve studies or certain reserve levels—and states in between that permit HOAs to not fund reserves if owners approve such a move
- What you should know about reserve and money management to ensure you meet your fiduciary duties and responsibilities
- When and how to conduct a reserve study
- The consequences of underfunding reserves
- How to help your owners take their focus off the goal of “low monthly assessments”
- Pros and cons of various funding mechanisms: budgeted contributions, one-time special assessments, and loans
- The most common mistakes boards make when funding HOA repair projects, whether through reserves or another funding method
- And much more!
After just one hour, you’ll know the HOA industry’s best practices when it comes to money matters at your HOA. Register now for this informative event for community association board members.