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Association of Professional Reserve Analysts (APRA) is the world’s premier trade organization for reserve study professionals. APRA hosts an annual Symposium for continuing education, provides credentialing and produces the APRA Advisor newsletter that is circulated to thousands of potential reserve study customers.
Community Associations Institute Reserves Specialist – The RS designation is awarded to qualified reserve specialists who, through years of specialized experience, can help ensure that community associations prepare their reserve budget as accurately as possible. RS designees must meet comprehensive requirements.
- Best practices for condo boards to plan for future building repairs February 22, 2017 Q: We live in a condo building of 56 units. We have a reserve fund marked for separate items like the elevator, roof, parking lot, painting, etc. If we didn’t have enough money to replace the elevator, can we use some of the money from the roof reserve fund? Read the Q&A…………..
- Funding Reserves For the Common Good February 15, 2017 Subdivisions, planned community, and condominium owners are different types of community and offer different types of amenities and surrounding. However, there is one common denominator that people living inside these communities are obliged to conform with to ensure the common good of everybody while accessing or using the amenities of the community, and that is paying dues to the homeowner’s association’s reserve fund. Read the article……………..
- Avoiding Future Special Assessments January 16, 2017 Life is full of risks. You may be stuck with your current circumstances, but you have surprising power to influence many future risks. As a manager or board member, you are responsible for the care of common area assets enjoyed by many homeowners. Understanding your association’s current risks and knowing what action you can take to minimize future risks is an important part of your responsibility. Read the article…………
- How Much are Adequate Reserve Contributions? December 20, 2016 At Association Reserves we understand board members face a big challenge to budget for the maintenance and replacement of their association’s major common area assets. Boards typically have little knowledge of project costs and when those costs are expected to occur. Looking to the Reserve Study for guidance, most members will review the document and exclaim, “We’re supposed to put THAT much in?” Such a realization often brings a chill to the budget process. Read the article……………
- Reserve Funding for On-Site Managed Communities January 24, 2017 Increasingly reserve funding has become more and more important in validating the community association operations and their management. All on-site managed communities whether they are Luxury Condominiums, Large-Scale On-site Managed Communities or Active Adult communities should have reserve funds with suitable reserve studies backing the funding levels. On-site managers are trained to be aware of reserve needs for the associations they manage. The managers typically will have the most up to date information regarding the reserve needs and will keep ...
- A primer on condo association reserves January 17, 2017 Q: Our community association just announced that our monthly assessment fee increased as of January. The reason is that we do not have enough reserves in our budget. What are reserves, and why does our association need them? Read the Q&A…………..
- Why Are Reserve Fund Studies Wrong 18 Out Of 25 Times? December 23, 2016 Sounds like a university math problem, but it isn’t. Math problems have answers. Reserve fund studies are subject to numerous assumptions beyond anyone’s reasonable control. One such assumption made by far too many reserve fund planners (one that has been for many years) is that the cost of work and expenses from reserve should change at a percentage rate equal to the rate of change that the annual contributions to reserve do. The available evidence illustrates that correlation simply does ...
- Reserve Funds: Do You Know How Much Your HOA Needs? November 17, 2016 Funding community operations is one of the most important functions of an HOA board. Typically, there are two types of funds in your HOA – operating funds and reserve funds. Operating funds are used to take care of day-to-day operations. Examples of operating funds might be contracted services (gate, fence, lighting, security, etc.), utility expenses, accounting and legal fees, office expenses, or taxes and insurance. Read the article……………..