The Importance Of A Reserve Study & Why It Matters To You

Every homeowners association needs to plan for the future and one way of doing that is to conduct a reserve study.  A reserve study is performed to determine when areas of the association will need renovated or repaired and how much that will cost.  Certain areas such as the roof and parking lot are expensive to repair so money needs to be saved each month to fund those projects when mandatory.  Does your homeowners association set aside enough money to pay for future repairs?