We have a lot of technology and high-speed systems in place. Our company runs smoothly and quickly. But we still have a lot of “old school” clients that we need to serve. Sometimes you just have to print out the documents, put little red “sign here” flags on it and drive it across town to get the deal done. – Scott Ford, California Builder Services
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You pay your HOA dues every month. Then the association tells you it needs a special assessment to replace the roof. Your first question is probably: Where did all the money go?
Some paid the insurance. Some paid the utilities. Some paid for routine maintenance. But paying those bills and saving enough to replace the roof are two different jobs.
Learn how AB 2050 changes California HOA reserve funding in 2032, including the 15% rule, nine-year restriction on the reserve funding special assessment, percent-funded benchmarks and long-term reserve planning.
AB 1572 will restrict potable-water irrigation of nonfunctional turf in California HOA common areas beginning in 2029. Learn what boards should plan and budget for now.
AB 2050 could significantly change how California HOAs fund their reserves beginning in 2032. Just as important, it could make the assumptions inside a reserve study much more consequential to homeowners.
