Jerry Orten was quoted in a May 2015 article in the Orten Cavanagh & Holmes LLC on HOA reserves. Jerry said:
“Each community should decide for themselves whether to have a reserve study, who to obtain it from, how often to update it, and how to implement it. Most HOA’s are required to have a governance policy on these aspects of reserve studies and funding. Ideally, the community determines what is best, consistent with the expectations and demographics of owners in the community, and in conjunction with the HOA’s community manager, HOA attorney and other advisors.”
For more information on what your HOA should be doing to study and comply with its reserve responsibilities and funding options, contact any one of the attorneys at Orten Cavanagh & Holmes, LLC.
