Understanding HOA Governing Documents: What Homeowners Should Know
A clear overview of the key governing documents used by homeowners associations and how they affect day-to-day community living.
Budget Basics: Making Sense of HOA Finances
How to read your HOA budget, what reserves cover, and how boards plan for stable assessments.
Understanding the HOA budget helps homeowners see how assessments keep the community running. The operating budget covers predictable costs like landscaping, insurance, utilities, and management. Reserve funding is set aside for big-ticket items—roofs, pavement, pools—so those projects do not require surprise special assessments.
Look for three things in each annual budget:
- A clear breakdown of expenses compared to last year.
- Reserve contributions that match the latest reserve study.
- Notes explaining any major increases or new projects.
If you have questions, ask early. Boards welcome feedback during the budget review period and can clarify how cost changes affect assessments.
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