Inflation can be a confusing topic, especially when it comes to long-term financial planning for your homeowners’ association (HOA). A Reserve Study, which is a crucial tool for forecasting future maintenance and replacement costs, needs to account for inflation, but which rate should you use? And how do you apply it effectively? Let’s break it […]
Category: Blog
Don’t Fall Into the Deferred Maintenance Trap
Every community faces it: the temptation to put off maintenance. It seems like an easy way to save money, right? That fresh coat of paint can wait. The HVAC check-up can be skipped this year. But this practice, known as deferred maintenance, can lead to big problems down the road. While it might seem like […]
Reserve Study Levels Explained
One of the most common questions we receive when discussing a proposal for a reserve study is about the various levels available. Some clients prefer a complete re-evaluation every time. While others question the necessity of an on-site visit for every study. At MillerDodson Associates, we adhere to the Community Association Institute (CAI) National Reserve […]
Building a Proactive Community Maintenance Program
Switching from a reactive, “fix-it-when-it-breaks” approach to a proactive preventive maintenance program can dramatically cut costs and extend the life of a community’s assets. While it’s a big shift, you don’t have to do it all at once. By following a few key steps, you can create a program that’s perfectly suited to your community’s […]
Parallel Paths: Managing Your Corporate and Brick-and-Mortar Budget
Before I dive in, let me be clear: my decades as an architect and my career as a Reserve Specialist didn't make me a guru in Community Association Budgets. But, by "looking in from the outside," I've spotted some interesting budgeting aspects that might just be helpful to those of you "on the inside." Early [...]
Proactive Protection: The Power of Preventive Maintenance for Condominiums
A preventive maintenance program is one of the most effective ways that associations can extend the service life of many of their assets. In spite of the benefit, few associations are willing to invest the time and funding up front that is needed to implement these programs. Instead, they choose to follow a program of [...]
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