Glossary
What is a reserve study?
A report that inventories the community's major components, estimates when each will need replacing and what it will cost, and recommends how much to set aside each year.
In Havn
The reserve study is filed in the community library and attached to lender questionnaires and resale packages that ask for it.
Document managementA reserve study has two parts: a physical analysis of the components the association must maintain, and a financial analysis that compares the money on hand with what the schedule will need. The result is a funding plan, often stated as a percent funded figure.
Many states require a study at intervals, commonly every three to five years with updates between, and some require the funding level to be disclosed to owners and buyers. It is also what a board points to when it explains why dues rose.
Keep Reading
Guides
- How Much Should an HOA Have in Reserves?There is no right dollar figure, only the number a reserve study produces for your roofs, your pavement, and your pool.
Templates
- HOA Dues Increase and Special Assessment Notice TemplateA free HOA letter template for a dues increase or a special assessment: the new amount and when it starts, why, the payment schedule, how to pay, and where to ask questions.
Laws and Documents
- HOA laws by stateEvery state's association statutes and resale rules on one map.
- HOA letter templatesFree notices, ballots, and letters a board can copy and send.
See how Havn handles it with your own community.
HOA management software with a homeowner portal owners actually use. Resale documents are included; the requester pays for each one.