HOA Reserves and Other Funding Options:
Tips for Everyday Smart Money Management and Blunting the Economic Effects of the Pandemic
Thursday, Sept. 17, 2020 - This Week!
2-3 p.m. Eastern
An Exclusive FREE HOAleader.com Webinar with Practical Tips for Condo and HOA Boards
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Condos and HOAs are working hard to stay financially secure in the face what was a peak of tens of millions of Americans hit by pandemic furloughs and layoffs.
That's on top of the fact that money is one of the most contentious issues you'll manage at your HOA. There's always an owner—or many—who'll challenge your financial decisions. Whether it's how much money to collect from owners in assessments, how much money to spend on maintenance and repairs, or how much money to set aside in your reserves for those inevitable projects, your actions will
be put under a microscope.
Keep calm and join our webinar for vital information on how you can continue to fund (or not) your association's reserves in one-hour webinar on September 17 led by three community association experts—one a manager, one a lawyer, and one a reserves analyst.
They'll explain what you need to know about HOA reserves and other funding mechanisms particularly during a pandemic when condos and HOAs are facing increasing delinquencies. They'll also reveal the smartest moves you can make to ensure your HOA can pay for needed maintenance and repair projects, and even community upgrades despite the financial challenges of not only COVID-19 but everyday
HOA operations.
You'll learn:
- The role of reserves at an HOA, including what you can and should fund and what would be inappropriate to fund through reserves
- How state laws differ in requirements for reserves, ranging from states that don't have any laws specifically governing HOA reserves to those that require reserve studies or certain reserve levels—and states in between that
permit HOAs to not fund reserves if owners approve such a move
- What you should know about reserve and money management to ensure you meet your fiduciary duties and responsibilities and whether your duties have shifted as a result of the pandemic
- When and how to conduct a reserve study
- The pros and cons of underfunding reserves
- Alternatives to using reserves to fund component replacement, including increased assessments, one-time special assessments, and loans
- The most common mistakes boards make when funding HOA repair projects, whether through reserves or another funding method
- And much more!
After just one hour, you'll know the HOA industry's best practices when it comes to money matters at your HOA. Register now for this informative event for community association board members.
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Register now »
(Can't attend on Sept 17? Register for free now, and we will send you the recording to watch at your convenience.)
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| Brad van Rooyen, CPMS, is the founder and
senior member of Tampa, Fla.-based HomeRiver Group and its national specialist for community association management, in addition to the president of Home Encounter. He has more than 12 years experience in community association management, and he holds a Florida community association manager license and a Florida real estate license; he's also a certified property management specialist. He has community association experience from a member's perspective through his volunteer service as the
president of his homeowners association. van Rooyen is also as an elected community development district supervisor.
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| Robert M. Nordlund, PE, RS, is the founder and CEO of Association Reserves Inc. in Calabasas, Calif. He is a registered professional engineer and a reserve study pioneer who was involved in creating the 1998 National Reserve Study Standards. He served as a condo board member and was a member of the inaugural class of CAI's certified reserve specialists. Before forming Association Reserves, Nordlund was an actual rocket scientist- at Rockwell International,
serving as the lead engineer on the space shuttle main engine program. He holds a bachelor's degree in mechanical engineering from the University of Washington.
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| David Swedelson is a founding partner of and oversees the litigation team at SwedelsonGottlieb in California. In addition to providing corporate and general legal counsel to association boards and their managing agents, Swedelson has litigated hundreds of lawsuits ranging from architectural violations and fair housing complaints to contractor and vendor contract disputes and construction defects. He's also in charge of content for the firm's HOA law blog.
Swedelson has served on the board of four community associations in which he's lived and has been extensively involved in the community association industry, including serving on the board of the Los Angeles and Channel Islands chapters of Community Associations Institute.
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A webinar is remarkably convenient. You participate from your home or office, using a telephone and computer with an Internet connection. You have no travel costs, hassle, or
commute time.
Because the conference is live, you can ask the speakers questions via the webinar interface. Many attendees tell us this is the most valuable part of the webinar.
You will receive access instructions via e-mail several days before the event. You don't need any additional materials before the webinar starts. The conference materials will be provided for you to view, print, and download.
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