By Evelyn Dufford, PCAM Washington State now requires that the majority of Homeowners Associations have a Reserve Study. There are three ways in which a Homeowners Association would not have to have one. They are; 1. Communities have 10 or fewer homes, 2. The cost of a Reserve Study is greater than 5% of the [...]
Association Services announces our class schedule for this spring. We are excited to be offering a new class to our list of offerings. It is a one day intensive for those Board Members who can’t make it during the week. This class will cover the same topics as our evening classes for each of the [...]
New Law Tackles HOA Reserves and Disclosures By Evelyn Dufford, CMCA, PCAM This spring the legislature passed and the Governor signed into law HB1309 . The law is an update for reserve funding disclosures for condominium and adds the concept of reserve funds for homeowners associations with “significant assets”. The bill becomes effective 1/1/2012. Let’s [...]
The Revised Code of Washington 64.38 was amended this spring to include Reserve Accounts and Reserve Studies for Homeowners Associations. We are in the process of understanding how this will affect many of our associations, large and small. Look for more information in the months to come. This will now need to be a consideration as [...]
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