Are resereve funds for long-term maintenance?

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  • #379128
    minhari19
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    I’m a little concerned because it seems like our HOA isn’t really using our reserve funds for what they’re meant for—long-term maintenance. Shouldn’t those funds be set aside for big projects like road repairs, roof replacements, etc.?

    #379129
    mrwyeman37
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    That’s exactly the purpose of the reserve funds. They should be used for major repairs and capital improvements, not just day-to-day expenses. If they’re being misused or neglected, it’s time to bring it up at the next meeting. Maybe even request a formal audit.

    #379130
    viviancortez
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    I had a similar issue in my previous HOA. They were spending reserve funds on things like landscaping and not saving for future infrastructure needs. I would recommend requesting a copy of the reserve study and asking for clarity on how the funds are being allocated.

    #379131
    white_rose
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    If the HOA isn’t using the reserve funds properly, there could be serious consequences down the road. If you don’t have a reserve study in place, it’s critical to get one done so that everyone knows what’s really needed for long-term upkeep. It might also be worth checking if they’ve been funding it correctly.

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