Reserve funds help an association plan for major future repairs and replacements of components it is responsible for. They serve a different purpose from the regular operating budget used for ongoing expenses.
Your community’s components, their condition and the association’s funding plan affect its reserve needs. Review the information supplied for your association when discussing future work.
Ask your board or management team how reserves are considered in your community’s budget. This general explanation does not state whether a particular association has enough funding.
For your community
Find your association’s documents and homeowner links, or contact our team for help with your situation.
Find your community →General educational information. Your community’s governing documents, notices and applicable requirements determine the process for your association.