Why Every Seattle HOA Needs an Association Reserve Study — and How David Bach & Associates Can Help
When you serve on a homeowners association (HOA) board in the Seattle area, planning for the future isn’t optional — it’s essential. Beyond budgeting for landscaping and utilities, you must anticipate major repair and replacement costs for community‑owned assets like roofs, paving, siding, and mechanical systems. That’s where a reserve study becomes invaluable. What Is an Association Reserve Study? A reserve study is a long‑term planning tool that combines a physical assessment of common property components with a financial analysis of your association’s reserve funds. Its purpose is to estimate when major repairs or replacements will be needed and how much money should be set aside now to avoid surprise special assessments later. It’s the backbone of strategic financial planning for COAs (condo associations) and HOAs alike. Reserve studies are not just best practices — in Washington State , they are often required by law to ensure communities remain financially respon...