For the most part, CC&Rs (Covenants, Conditions and Restrictions) for HOAs require the association to maintain or replace major components found in the common areas. These components range from roads, roofs, siding, exterior paint and landscaping irrigation systems. These components unexpectedly fail from time to time. Associations plan and set funds aside in a reserve fund in order to cover these expenses. Reserve funds are good, and the needed contributions to these funds should not be … [Read more...] about HOA Reserve Funds: Are They Good or Bad?
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