Question:
What is a reserve study? This is a follow up to my other question. Someone mentioned reserves only being for reserve studies. What the heck is that?
As far as I know, the reserve at my HOA is a general pool. I never heard anything about a reserve study. They have not done any major work beyond routine maintenance, and they don't do much of that.
A few years ago, they replaced a brick facade and front doors for 4 units, and some time before that they did about 25% of the units, leaving the rest of us with rotting doors.
Also, more than 3 years ago, some people got new windows (funny how it was the building where the HOA VP lives), There might be a couple other buildings that got new windows (4 units each) at the expense of the rest of us. They get higher property values even though we all paid for their windows, but don't get the same in return, and all the units need new windows. They are all in the same condition. Poor quality to begin with.
Answers (6)
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