How much is in your Reserve Fund?

Started by SteveS4 • 12 replies • 1584 views

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SteveS4 (Indiana)
Posts: 7

Posted:

Questions:
How much is in your HOA reserve fund?
How many units?
Value of units?
Any key expense areas?
Yearly dues?

For example for our HOA:
<$1000.00
about 100 homes
about $200K / house
grassed 5 acre park with paved walking path and foot bridge over creek.
$100/year

BradD2 (Florida)
Posts: 418

Posted:

> 10,000
50 Houses
300k / house
retention pond, wall and sign
$440 / year

RickR3 (California)
Posts: 42

Posted:

> $80,000
164 Homes
Pool, Clubhouse, common play area, paths, sound walls, fences
Dues $516/year

RogerB (Colorado)
Posts: 5,067

Posted:

~$75,000
70 homes @ ~$500,000
fences, irrigation system, landscaping, signs/lighting, contingencies
$480

PaulM (Pennsylvania)
Posts: 1,347

Posted:

Roger, it is interesting to see the great difference in reserve fund amounts based on the number of units in a community. When you state $480, is this the amount going into the reserve fund each month?

RogerB (Colorado)
Posts: 5,067

Posted:

Paul, $480 is the annual assessment in accordance with Steve's format:

How much is in your HOA reserve fund?
How many units?
Value of units?
Any key expense areas?
Yearly dues?

KevinH (Texas)
Posts: 53

Posted:

Texas

>$35,000
98
$100-$200K
Cement Drives and Parking Circles, Sidewalks, Common Lawn areas, Trees, Landscaping, Irrigation,
$360

Have decided on a company to do a Reserve Study this year.

If you cannot see the forest for the trees, back up and get a better view. Don't start to clear a path while still blind.

PaulM (Pennsylvania)
Posts: 1,347

Posted:

Kevin, pls. keep us all informed how your reserve study goes. When you do get the study done, pls. share what criteria will you/company be used to arrive at an accurate figure based on the number of years. Looking forward to it. Thanks.

SteveS4 (Indiana)
Posts: 7

Posted:

thanks for the info everyone.

BradP (Kansas)
Posts: 2,640

Posted:

$15,000
167 homes
150k per home
retention pond, entrance signs, playground and sprinkler systems
$120/year

JoeW1 (New York)
Posts: 728

Posted:

SteveS4 - your two posts evidence an interest in reserves, that's great. however this post is comparing apples to oranges plain and simple. in order to form a conclusion based upon the responses to this post you'd have to get more detail than you asked. Bottom line, an owner controlled board needs to hire a local independent engineering firm to perform a Capital Reserve Analysis and Deficiency Study of construction by the developer. Do a search in your state for Transition Engineering Firm or call other Associations in your vicinity and ask who they used, interview at least 3 firms (on a Board level) and choose the one that has the most comprehensive proposal for the best price. Less cost is not always more.

SteveS4 (Indiana)
Posts: 7

Posted:

Thanks... I will pass the info on to my board.

DavidW5 (North Carolina)
Posts: 565

Posted:

Our reserve currently contains approx. $525,000.
We have 800 homes. Average home value = $450,000
We have common property with replacement value of approx $4.7M
Key area is the 21,000 sq ft clubhouse

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