Are your condo's reserves adequate?

Author's Note

When my husband and I were house shopping back in late 2005 and early 2006, I was shocked to learn about how high homeowners' association fees could be. Researching this article helped put some of that into perspective. Sure, you're writing a check to the HOA each month, but it's actually just forced savings for routine and one-time maintenance.

After a lot of house hunting and looking at both houses and condos, we opted for a house, and avoiding HOA fees was part of why we went that way. As a homeowner, though, you still end up spending that money. When we had to replace our roof last year, it would have been nice if we'd been saving up for unexpected maintenance all along, like you're doing with a condo reserve fund.

Related Articles


  • Complex Solutions, Ltd. "Reserve Study Tutorial #6." (July 16, 2012)
  • Facilities Advisors, Inc. "State of Arkansas." (July 16, 2012)
  • McClellan, Karel. "Condos 101." Condo Living Today. (July 16, 2012)
  • Rathbun, Frank. VP of Communications at Community Associations Institute. Personal Interview. June 12, 2012.
  • Tempe Condo Experts. "What is a Condo Reserve Fund?" (July 16, 2012)
  • Thompson, Richard. "Ask the HOA Expert." March 5, 2009. (July 16, 2012)
  • Tyndall, Glenn, CPA. "Reserve Study Requirements for Florida Condominium, Townhome, and Homeowners' Associations." Tyndall & Company Certified Public Accountants. (July 16, 2012).

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