Tag Archives: component

The Science and Art of the Reserve Study

Preparing the annual budget and overseeing a homeowner association’s finances are perhaps the most important responsibilities of the board. It is also a primary duty of the board to maintain and preserve market values of member property. To do so properly, directors must develop a schedule and funding plan for future repair or replacement of common elements, such as swimming pools, decks, paving, concrete, fencing, signs, etc.

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