Send us a textCould one book for HOAs change the entire industry? Find out! ✅ Get the first chapter FREE of “Understanding Reserves” HERE 👉 https://bit.ly/44QjKwH📘 Buy  “Understanding Reserves” on Amazon 👉 https://a.co/d/b0jrTK7What if one book could save your HOA thousands and prevent endless headaches? In this episode, Robert and guest Kevin Leonard get into “Understanding Reserves: A Guide To Your Association's Reserve Fund”, a must-read for anyone involved in a homeowners association. This book demystifies how HOAs should actually work. Learn how education, clarity, and simple tools can build better communities! Three Purposes of the Reserve Study:1. Display the Component List – the list of projects Reserves are being collected to perform. Note: the Component List is commonly referred to as the “foundation” of every Reserve Study, because the Financial Analysis is based on this list of expenses2. Evaluation of Reserve Fund Strength (current cash on hand compared to the current $ of common area deterioration at the association)3. Recommended multi-year Funding Plan to provide sufficient cash so Reserve Projects can be accomplished in a timely manner without reliance on supplemental loans or special assessments.“Adequate Reserves” definition: A replacement reserve fund and stable and equitable multiyear funding plan that together provide for the reliable and timely execution of the association’s major repair and replacement projects without reliance on additional supplemental funding.Podcast Links:Full Episode ListWatch On YoutubeEngage in the conversation! Call our 24/7 voicemail line at (805) 203-3130 or send an email or voice memo to [email protected] yourself or a Board Hero you Know!Board Hero NominationsBoardmember Merch Store!Connect with Hosts on LinkedInJulie AdamenKevin Davis, CIRMSRobert Nordlund, PESupport Our SponsorsAssociation Insights & MarketplaceAssociation ReservesCommunity FinancialsKevin Davis Insurance ServicesStokelight Video & MarketingThe Inspectors of Election

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