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YOU WON’T FIND MANY ASSOCIATION BOARDS that question the importance of reserve studies, but you will find more than a few that have never commissioned one, haven’t read the study they did commission, and/or haven’t followed its recommendations. For full article with more detail see here ... 
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Recent article by Paul Huijing, P.E. published in Community Associations Institute - New England Chapter publication Condo Media Reserve studies are an important association planning tool for communities of all sizes. In a series of articles published over the past year, various objectives and phases of the study have been examined including:
 Recent article by Paul Huijing, P.E. published in Community Associations Institute - New England Chapter publication Condo Media In prior articles, we reviewed the rationale for conducting a reserve study and how to read the study to gain an understanding of association reserve responsibilities and finances. Now we will put the study into action. Starting with association goals, this article describes the process of calculating the unit owner contributions required to meet the reserve fund obligations for capital repairs and replacement. During the association annual budget process, reserve contributions are finalized based on the reserve study. For full article with more detail see here ...  "Planning for the Future" is a recent article by Dean Lennon, Esq. published in Community Associations Institute - New England publication Condo Media. Attorney Lennon describes the importance of proper reserve funding and the risks associated with special assessment collections. "In many conversations over the years, I have heard trustees remark about their pride over not having raised the monthly condo fee during their long tenure on the board. While I understand this sentiment, a flat monthly fee over a long period of time is almost always a mistake and it is a mistake that the ownership could pay a large price for in the future." For full article with more detail see here ...  Recent article by Paul Huijing, P.E. published in Community Associations Institute - New England Chapter publication Condo Media A reserve study is one of the most important documents assisting a stable and sustainable community association. This document is a financial roadmap for the replacement and repair of common components within an association. Overview information can be gleaned from a quick review. Important details can be obtained by a more careful reading. For full article with more detail see here ...  Recent article by Paul Huijing, P.E. published in Community Associations Institute - Connecticut Chapter publication Common Interest Community association trustee board members may ask why they need a reserve study. Some unit owners may also ask. Professional property managers will likely recommend a reserve study to fulfill their advisory role. All concerned parties should ask, but some involved may not know the importance of the question. There are many answers to the question depending on your involvement with an association. I will highlight the following motivations in this introductory article: • Fiduciary duty • Aesthetics and property values • Stable and logical financial planning • Fairness For full article with more detail see here ...  |
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