Barrera & Company is actively involved
in the homeowner association industry following the news and
events of an ever changing political climate of association
management. We have contributed to our industry by writing articles
and being involved in legislative action committees for the
betterment of the industry.
As the fastest-growing neighborhood lifestyle
in the country homeowner associations are increasingly more
in the news and their impact resonates through every state.
We hope to continue to be a contributor with useful information
and service that can better homeowners associations and the
people who serve them.
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.