HOA Boards are constantly balancing community maintenance and the cost of HOA dues.

It’s getting harder and harder to do because of the rising cost of labor, materials, and insurance.

It’s not impossible, though. Communities in Arizona are learning how to leverage reserve studies to avoid raising dues, while still adequately funding their reserves.

One of the major tools Homeowner Association Boards can employ is an effective preventative maintenance plan. Maintenance is, after all, the key function of an HOA’s budget. But not all maintenance activities are created equal. Some items are much more expensive in the long run and can ruin a community’s finances if they aren’t prepared.

Karl and Tom with Advanced Reserve Solutions know how to help communities maximize their budgets. Check out the video above and hear their advice on getting the most out of your HOA’s budget.