Reserve study
Does your HOA practice responsible leadership?
Homeowners expect your association to pay for any and all expenses while never raising dues or imposing special assessments. Moreover, they also want the board to assume its responsibilities to contribute to membership while minimizing any negative effects to the financial statement. This approach to HOA management - balancing membership interests against property needs - can be referred to as ensuring equitable funding to offset the anticipated future major common-area expenditures - or Reserve Study.
If this is your situation
- You need to understand what is a reserve study, its purpose, and its social and economic impact.
- Your last reserve study is three years old.
- Your association has initiated projects and imposed a Special Assessment
- You association common areas experienced an unusual number of emergency repairs
How MainStreet can help you
For homeowners associations looking to create long-term member value, MainStreet can help develop a Reserve Study that combines financial and physical analysis.
Our reserve study teams comprise a network of professional engineers, financial consultants and business advisors throughout Southern California.
We assist our clients in the areas of corporate governance and social responsibility, strategy and financial accountability, responsible management, and reporting and assurance of financial and non-financial information.