How do I convince the Board of Directors to complete a Reserve Study?
AVOID SPECIAL ASSESSMENTS: Don’t be reactive. Special assessments are generally the by-products that come from bad planning or no planning at all. The reserve study helps associations with a strategy that plans and budgets accordingly for future expenditure disbursements LITIGATION: The by-product of special assessments unfortunately can be association members litigating against the association and it’s Board. This costly battle that wages has no winners and the members must use valuable reserve funds, otherwise used to benefit the association and its members, for attorney fees PROTECT YOUR INVESTMENT AND IT WILL INCREASE IN VALUE: Your property/home is an investment and the appearance of your property maintenance reflects the condition of this investment. The reserve study is the tool that helps allow this investment to grow in value through the proper replacement and maintenance of these components.
