Look through the HOA’s reserve study to make sure that the reserves are properly funded. “Usually, if the HOA is 70 percent or more funded, they will be able to make all their repairs on time with enough cash flow,” says Scott Ford, president of residential real estate development consulting firm, California Builder Services. “If they’re less than 40 percent funded, walk away!” he warns.
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Every conversation with a prospective or current client can shape the relationship, reveal useful information and influence what happens next. When leaders focus too heavily on their own agenda, however, the discussion can quickly become transactional, leaving one or both sides without a clear sense of value or progress.
Knowledge, accuracy and deadlines matter. But I have also learned that clients remember how they felt during the process. A client’s project might be only one of hundreds on our internal workflow. But to that client, it might be the most important thing they are dealing with right now.
Future HOA amenities in California may require a DRE Completion Bond to protect homeowners and ensure developers finish promised facilities. Learn why these bonds matter and how they safeguard your community’s investment.
Learn how interest contributions are calculated in a reserve study, why they matter, and how accurate projections support HOA budgeting and long term planning.
