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How To Tell If The HOA Has Been Properly Maintained
Posted on August 19, 2020 8:00 AM by HOA Sites
Categories: HOA Website
An HOA board maintains the assets of an association, setting funds aside to carry out repairs where and when they are necessary.  It also puts in place rules and regulations that will protect residents in the event of an accident.

However, some HOA boards are not as diligent as their community website claims.  This is why individual members have to remain alert, responding to any signs of trouble they encounter and holding the board accountable so the association is properly maintained.
 
Why Proper Maintenance Matters

The objective of carrying out proper maintenance is to either prevent the wear that assets eventually suffer or to identify repairs that must be done to prevent them from being a safety concern.  When the board fails to maintain the assets, an infrastructure breaks down and accidents may start to happen.  It isn’t just a simple matter of retaining the aesthetic value of the community as injuries can make the association vulnerable to lawsuits.
 
The Importance Of A Reserve Study

The easiest way to determine whether or not an HOA has been properly maintained is to find out if the board has recently performed a reserve study.  Reserve studies are used to analyze the state of the community, identifying assets that require future maintenance, and estimating the costs the association will incur to do those repairs.  The presence of a reserve study shows that the HOA board has adequately prepared for the maintenance needs of a community.
 
Consider The Law

In many places, reserve studies are a legal requirement and negligent associations tend to ignore this law even though it exposes the community to costly ramifications.  Often, you can determine if the board is aware of their legal responsibilities by looking at the community website.  In the end, an association that has chosen to neglect their legal obligations can’t be trusted with the maintenance demands of the community.
9761 Crosspoint Blvd
 Suite 400
 Indianapolis, IN 46256