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Q: Our condominium association just had a reserve study done for the first time in our twenty-year plus history. We learned that all of the funds we have set up are inadequate. The board said that to catch up …
Q: Historically, the unit owners in our condominium are given the opportunity to vote on waiving reserve funding each year. When approved, this resulted in lower assessments. This year, the board adopted a budget with fully-funded reserves and …
Question: The board of directors of my homeowners’ association has decided to “roll over” the surplus funds from our 2013 budget into a non-statutory pooled reserve account. Last year they overstated the amount necessary for …
A blog reader recently posed a question containing the following statement:
We are a HOA of 8000 parcels, and we do not have Statutory required membership or developer reserves.
Membership (mandatory or voluntary) in …
