For community associations such as homeowners associations (HOAs), condominiums, and cooperatives in New Jersey, timely completion of Reserve Studies is essential. A Reserve Study evaluates the condition of a community’s common areas and infrastructure to plan for future repairs and replacements. It also provides a financial roadmap for setting aside the right amount of funds….
Transitioning control of a Homeowners Association (HOA) from the developer to the residents is a crucial and complex milestone in the development of a community. This process, particularly in New Jersey, involves a multitude of legal, financial, and administrative steps designed to ensure a seamless and effective transfer, fostering the sustainable management of the community…..
A condominium reserve study, or also known as an HOA reserve study, is a comprehensive examination and evaluation of an association’s assets. Functioning as a strategic capital planning tool, it offers detailed guidance and analysis regarding the community’s assets. The primary objective of a reserve study is to assess the various components of a Homeowners….