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 […]
Tag: reserve study
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 [...]
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