In many cases, the reserve funds are misunderstood by the members of the homeowners association, as well as the members of the Board. There are some that view the funds as a type of rainy day fund that can be used if the HOA runs low in funds, while others understand the necessity of the reserve cash but do not connect that the funds are being reserved for specific areas in the community that the HOA is responsible for, such as replacing equipment, painting, fencing, siding, roofing and roads. Read the entire article……………………………….
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