Tag Archives: Reserve Funds

Why Reserve Funds are Necessary

shutterstock_113313148No one likes to spend their hard-earned money on community association dues. Just like taxes, everyone complains about having to pay them and resents it when they go up. Sometimes an HOA will try to please their residents by avoiding fee increases and dipping into their reserve funds to cover a rise in costs. As attractive an option as this may seem, it is one that sacrifices long term planning for short term comfort. Not only that, but depleting the reserve fund in the name of saving residents money is often a road to costing them even more money when an emergency happens.  Continue reading