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HOA Insights: Common Sense for Common Areas

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What if one book could save your HOA thousands and prevent endless headaches? In this episode, Robert and guest Kevin Leonard get into “Understanding Reserves: A Guide To Your Association's Reserve Fund”, a must-read for anyone involved in a homeowners association. This book demystifies how HOAs should actually work. Learn how education, clarity, and simple tools can build better communities!
Three Purposes of the Reserve Study:
1. Display the Component List – the list of projects Reserves are being collected to perform. Note: the Component List is commonly referred to as the “foundation” of every Reserve Study, because the Financial Analysis is based on this list of expenses
2. Evaluation of Reserve Fund Strength (current cash on hand compared to the current $ of common area deterioration at the association)
3. Recommended multi-year Funding Plan to provide sufficient cash so Reserve Projects can be accomplished in a timely manner without reliance on supplemental loans or special assessments.
“Adequate Reserves” definition: A replacement reserve fund and stable and equitable multiyear funding plan that together provide for the reliable and timely execution of the association’s major repair and replacement projects without reliance on additional supplemental funding.

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Fejezetek

1. Special Assessments Are Tricky (00:00:00)

2. Introduction to Kevin Leonard and “Understanding Reserves” (00:00:48)

3. What Inspired the Writing of “Understanding Reserves” (00:04:11)

4. How Do Homeowners Typically Misunderstand Their HOA? (00:06:12)

5. What Are the Core Responsibilities of an HOA Board? (00:10:25)

6. Why Is Transparency Critical for HOA Governance? (00:13:44)

7. What Makes Communication So Difficult in Associations? (00:17:30)

8. How Can Board Members Gain More Respect and Authority? (00:20:49)

9. Ad Break - Association Reserves (00:24:15)

10. How Can This Book Help Solve Real-Life HOA Conflicts? (00:28:16)

11. What Tools Does the Book Offer for Better Decision-Making? (00:31:32)

12. How Do Board Members Learn From Other Associations? (00:34:08)

13. What’s the Long-Term Vision for Empowered HOA Boards? (00:38:34)

14. Where Can Viewers Get “Understanding Reserves” (00:41:10)