Strong vs Weak HOA Reserve Fund: Which Are You?

Рет қаралды 261

Күн бұрын

Is your HOA reserve fund enough? Here’s how to know whether you're budgeting enough reserves, or if it’s time for you catch up!
✅ Is a Reserve Study right for you? 👉 www.reservestudy.com/
Do you know how your HOA is really doing? How are you matching up to other community associations around you? In our Reserve Studies 102: The Financial Analysis webinar, we’ll show you how to determine the strength of your HOA reserves, your budget for this year, the funding goals you could be aiming for, and tools for you to take home to the rest of the board. This is the key to knowing how your HOA is performing financially and how you can improve!
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00:00 Intro
03:57 is Your Reserve Fund Strong or Weak?
10:17 HOA Reserve Needs Formula
10:31 Fully Funded Balance Formula
11:51 Percent Funded Formula
16:19 How to Fund HOA Reserves
27:16 The Typical Reserve Funding Budget
28:09 What Underfunding Looks Like
29:36 The 3 Funding Goals: Which is Right for You?
30:23 Reserve Funding Methods
31:01 Upcoming FREE Webinars!
32:05 HOA Resources for You
#hoa #reservefund #associationreserves

Пікірлер: 5

@reservestudies 21 күн бұрын

✅ Is a Reserve Study right for you? 👉 www.reservestudy.com/

@Chicago_Clout 20 күн бұрын

You broke this down perfect.❤

@BlakeMurphy-nv3wf 19 күн бұрын

Reserve studies look out 30 years. Your example calculation for asphalt seal is 5 years meaning it would repeat 6 times over the 30 study period. Should the calculation include just the first sealing as shown or all 5 repeats which would be times 5.

@reservestudies 19 күн бұрын

The calculation is done for the current items/projects on the component list. So to your question, "just the first seal project". No one is being asked to provide for, or be financially prepared for, future cycles. If you keep up with current cycles, the future cycles take care of themselves.

@dawsonprice3154 18 күн бұрын

Reserve studies are not locked at 30 year projections (at least we don't). For us, it is comprised of items that are 3-50 years lifespan. We do our sealing every 8-9 years, so our reserve shows us collecting for 8 or 9 years and then replacing it. We do however stay in contact with our vendor and update the cost every year or every 2 years, to make sure we are staying current on costs for this item as well as other items, beyond just adding straight % increase. The inflation this last couple of years really crept up on us, especially big ticket item like roof replacement. Our complex (single story 10-plex and single story 6-plex) is right at 25 years old, we started having a couple of leaks around roof vents a couple of years ago, and got estimates for roof replacement. The last 20years + of board management was a bit complacent (their philosophy was there social security wasn't increasing so dues didn't need to either, and they figured we would never truly use all the money in our accounts, and was using a $100,000 figure to replace both roofs. While fixing the leaks we started getting quotes. We got quotes of $75k for the 6-plex and $115k for the 10-plex.