Are you aware it's the law in many states for Homeowner associations to have a reserve study? The reserve study helps prepare associations and avoid litigation as a proper budgeting tool to avoid special assessments with well-maintained common areas.

Having adequate reserves is like having gas in your car. If you don't adequately fill your tank you will be unable to reach your destination of choice. The importance of an adequate reserve is the empowerment it gives your association to maximize the full potential of property value by replacing common area components at the end of its lifecycle.