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Reserve fun

Reserve fun. An oxymoron?. Discretionary?. Reserve fun ds. Mandatory?. Political? . Reserve fun ding. Procedural?. Absolute?. Flexible?. Reserve fun ding in a crisis. Should there be special procedures?. Reserve fun ding.

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Reserve fun

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  1. Reserve fun An oxymoron?

  2. Discretionary? Reserve funds Mandatory?

  3. Political? Reserve funding Procedural? Absolute? Flexible?

  4. Reserve funding in a crisis Should there be special procedures?

  5. Reserve funding involves people...

  6. What are the challenges? • How can you effectively educate owners about the importance of reserve funds?

  7. What are the challenges? • How can you effectively inform owners about the regulatory obligations related to reserve funds?

  8. What are the challenges? • What do you do if an owner defaults on their payments?

  9. What are the challenges? • What impact do the new FannieMae/Freddie Mac requirements for reserve funds have on your association?

  10. Questions?? …We’re here… ASK US!

  11. What are the challenges? • What impact does a marginally funded reserve fund have on lenders (and, therefore, buyers)?

  12. What are the challenges? • If you can’t do everything recommended in your reserve fund study, what should get the highest priority?

  13. What are the challenges? • How can you diffuse the “everybody’s a construction expert” debates that seem to develop around reserve fund studies?

  14. Questions?? …We’re here… ASK US!

  15. Reserve funding involves people... solving problems

  16. Putting Out the Fires • Inadequate insulation • Poor deck construction • Siding installation problems

  17. Putting Out the Fires • Pavement maintenance • Improper ventilation • Water intrusion

  18. Putting Out the Fires • Roof ice dams • Site drainage • Lack of flashing

  19. Putting Out the Fires • Foundation problems • Acoustics • Odors

  20. Questions?? …We’re here… ASK US!

  21. Reserve funding involves people... solving problems in real time

  22. Case Studies • Case of the Ninja Plumber Ask us for more details

  23. Case Studies • Eliminate your FUD Ask us for more details

  24. Case Studies • Yes, We Got No Green Bananas Ask us for more details

  25. Case Studies • Don’t Hang Out Your Dirty Laundry Ask us for more details

  26. Lessons Learned • Consistent reinforcement of regulations • Effective board meetings

  27. Lessons Learned • Educating owners and board members • Establish priorities and plans

  28. Questions?? …We’re here… ASK US!

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