Are HOAs required to have healthy reserves?

Q: My homeowners association (HOA) was created more than 10 years ago and we just discovered at a recent budget workshop that there are minimal reserves. It is clear that we will need special assessments to replace the perimeter wall and other various improvements because there will not be enough reserve money to pay for the replacements. I thought HOAs had to maintain healthy reserves. Am I wrong?   Read the Q&A………….


Related Articles

Can an association report a homeowners unpaid assessments to a credit agency?

Q: We have a homeowner that has not paid assessments to the association. It has been suggested that the association

Oviedo (FL) homeowner fights HOA over rental home next door

A Seminole County homeowner said he is fighting his homeowner’s association over of a rental home that’s next to his.

Marco Island man in battle over need for service dog in no-pet condominium

When Larry McKay gets up in the morning, he reaches for Kane to brace himself and walk through his Marco