In our first installment of this series we introduced a story-line that began in July 2015 when CIDA's predecessor Capital Reserve Consultants (CRC) examined a local condominium association for the first time (Association A) and a second similar condominium (Association B) in June of 2016. Both condominiums contained a similar number of dwelling units and … Continue reading A Tale of Two Reserve Studies: Part II
One of the things that we advise all of our clients is that a homeowner association's financial situation can change quickly. Hence, it cannot be assumed that just because an Association received a relatively positive review from CIDA's examiners it will always be a fiscally sound, well run organization. A second piece of advice that … Continue reading A Tale of Two Reserve Studies
Back in 2009, while the housing market was in the process of imploding, Capital Reserve Consultants, LLC (CRC), received an invitation from the Community Associations Institute (CAI) asking if CRC would be interested in submitting a proposal to be a presenter at the upcoming CAI national conference. Never being one to miss an opportunity CRC's … Continue reading The Tipping Point…
What is reserve planning and why is it important to the sustainability of a homeowner association (HOA)? Most people who purchase homes in HOAs have no idea what a reserve study is, or why it is important. In spite of the critical role reserve planning plays in the long-term sustainability of a common interest development … Continue reading Introduction to Reserve Planning
If you have been following the HOA Detective blog for any length of time then you know that yours truly talks a lot about the importance of reserve planning and funding for homeowners associations. To quickly recap, the position of the HOA Detective is that reserve planning and funding of a reserve account is the … Continue reading 2020 and Beyond: Mandatory Reserve Funding…Really?
In March of 2016 the Community Associations Institute (CAI) released a White Paper titled: Community Next: 2020 and Beyond - The Association Governance Model Panel Report....
Why is it important that the reserve study be prepared by an impartial, third-party provider? This is a question that many reserve study providers would just as soon not have to answer. It is also one that the industry itself has chosen to address in only a passing manner by requiring that the reserve study … Continue reading Reserve Studies: The Importance of Objectivity