SmartProperty® helps Arizona HOAs and condominiums plan and fund their reserves. Arizona doesn’t require a study, but it does require disclosure. We help your board turn that into a plan that protects owners and resale values.
Arizona leaves the decision to the board, then makes the result public at resale. What your association owes depends on how it is organized.
If a major failure forces a special assessment, the board’s defense is that it acted with ordinary prudence. A professional study is the record of that.
Because Arizona resale certificates disclose reserves, lenders see a thin fund right away. An association that looks underfunded can land on a lender’s ineligible list, and buyers are left with cash only.
Heat and sun exposure can shorten the useful life of roofs, paving and mechanical equipment. Useful lives should reflect Arizona conditions, not national averages.
A site-inspected study to start, then updates as costs and conditions change, so the board always has a current plan.
The Living Reserve Study® updates as projects are completed and costs change, so your plan is ready for the next update or budget.
Model higher contributions, special assessments, loans or lines of credit side by side before you take a recommendation to owners.
Atlas shows the cost data and useful-life assumptions behind every figure, so boards can answer owner questions with confidence.
See how the Living Reserve Study® works for your community, or tell us about your association and we’ll put together a proposal.
Photo via Wikimedia Commons: Monument Valley: Mgimelfarb, CC0. Arizona law summary is not legal advice. Confirm your association’s obligations with Arizona counsel.