A Reserve Study Guide for Homeowners’ Associations (Infographic)

The responsibility of a home owner in a community does not only end in their own house; it extends to the shared amenities and physical assets that are for the benefit of each household. Because many people are stakeholders, the board of directors should make sure that they maintain, protect, and enhance the assets of the association, in a way that everybody is treated fairly in terms of funding.

 

Maintaining, protecting and enhancing assets includes money, and it can be problematic when more than two people discuss it for the common good of all the members of the homeowners. This is why reserve studies are made and are being used in balancing the monetary aspect of homeowners’ associations dues and duties.