As properties within homeowners and condominium associations age, inevitably maintenance expenses will begin to pile up. Roofs will need to be replaced, deteriorating roads will need to be repaired, and siding may need to be replaced. These are examples of major expenses that do not occur every day, but can often otherwise be anticipated. Planning ahead for these expenditures can be key to the financial health of your association. So how do homeowners and condominium associations pay for these major projects? One method is through reserve funding. This is an amount of the collected assessments that are set aside to … Continue reading →