HOA & Condo Association Finance: Dues, Reserve Studies & Special Assessments

What you'll build

What you will be able to do

Each lab ends with a concrete result that you build yourself and the checker confirms, cell by cell.

• Turn floor areas into each unit's share of the association, split the approved budget into annual and monthly dues, round the monthly dues up to whole currency units and measure the rounding surplus.
• Build next year's operating budget from this year's forecast actuals and expected price changes, add a contingency and the reserve contribution, and express the result as a percentage increase for the owners.
• Turn a list of building components into remaining lives, inflated replacement costs at the year they fall due and a straight-line annual funding amount for the whole reserve.
• Calculate the fully funded balance of every component, compare the association's real reserve with it as percent funded, and express the gap per unit.
• Project the reserve fund year by year with a growing contribution and the planned replacements, find the lowest balance and its year, and highlight every year that falls below the board's minimum.
• Size the shortfall of an unplanned project after keeping the minimum reserve, split it as a one-off special assessment by unit share, and compare it with an association loan's monthly payment and total interest.
• Calculate open balances per unit, apply a late fee only after the grace period, and measure the collection rate and the share of dues that are seriously overdue.
• Assemble next year's total budget from operating costs, contingency and the higher reserve contribution, set the new rounded monthly dues per unit, show each owner's change and chart what the money is for.