---
title: Does HOA board have obligation to seek best rates for reserves?
description: what obligation does the board have to invest the reserves in the most favorable interest rate?
image: http://www.condoassociation.com/hs-fs/hub/504/file-13172453.jpg
---

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# Does HOA board have obligation to seek best rates for reserves?

| [Condo Reserves](https://www.condoassociation.com/blog/topic/condo-reserves) |  

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## What do you think? Question:

What obligation does the board have to invest the reserves in the most favorable interest rate?   Also, does the board have to have contracts with subcontractors or is it acceptable to hire a subcontractor on a monthly basis with no scope of services?

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## What do you think? Answers (6)

#### What are your thoughts on this topic?

***Comments and postings are not legal advice**, but are the opinions of our readers. This forum and its contents are being monitored. Please be respectful of each other. *  
  

## Related Posts

### [Florida HOA having problem raising assessment](https://www.condoassociation.com/blog/florida-hoa-having-problem-raising-assessment)

### [Is HOA board obligated to regularly fund reserve?](https://www.condoassociation.com/blog/can-hoa-board-members-deposit-funds-into-reserves)

### [Condo board borrows from reserves. Owners afraid it will not get re-paid.](https://www.condoassociation.com/blog/condo-board-borrows-from-reserves.-owners-afraid-it-will-not-get-re-paid)

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