Community associations come in all sizes. They vary in age, amenities provided, and maintenance obligations. Careful planning for future repairs and replacements is not only in the best physical and fiscal interests of the community association, it is required by law in some states. Maintaining a reserve fund not only meets legal, fiduciary and professional requirements, it also minimizes the need for special assessments and enhances resale values. This Best Practices Report, published by the Foundation for Community Association Research, includes performance benchmarks on how to sufficiently reserve for the future as well as case studies that illustrate the implementation of those benchmarks in real communities.
Reserve Studies/Management is also available as a free PDF download. However, for those who want a printed version, it is available here at cost.
Contents
Overview
Definition of Reserve Studies
Types of Reserve Studies
Contents of a Reserve Study
Disclosure
Determining a Reserve Schedule
Establishing a Preventive Maintenance Schedule
Selecting a Funding Plan
Developing an Investment Policy
Financial Reporting
Case Studies
Case Study #1: RR Community Association
Case Study #2: ABC Community Association
Case Study #3: The Woodlands at West Orange Condominium Association
Common Terms
Additional Resources
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