Homeowner Associations News
In the world of condominiums, many transition milestones are well understood, many are not. Most know condos go through a transition management period from the developer to unit owner. However, there is much more. Condo transition has two primary elements: Transition of Control and Transition of Responsibility. Transition of Control Transition of Control refers to the new Board….
A Reserve Study is a budget-planning tool used by Homeowners Associations that identifies the current status of the Reserve Fund and establishes a stable and equitable funding plan to offset anticipated common-area expenditures. They contain an evaluation of property condition and serve as an indispensable tool in projecting costs and managing Reserve accounts. A quality Reserve….