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What is a reserve study for an HOA?
There is a rumor going around that our HOA fee is increased due to the reserve study the association received last month. I can't afford to pay them any more than I do now. What is a reserve study for an HOA?
Shannon Martin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
The cost of everything is getting higher right now—that is probably why the association commissioned a reserve study to begin with. A reserve study allows the association to ensure they have enough funds in reserve to pay for ongoing and upcoming work that may be needed.
For example, if they know they will need to replace the roof over the clubhouse in the next two years, they want to know how much it will cost. If it causes the reserve to drop too low, everyone will get a raise in their association fee to cover the difference.
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