Smart Solutions HOA
Frequently Asked Questions
💼 General Services
Q: What services do you offer as a Reserve, Budget, and Finance Consultant?
A: I provide reserve study analysis, budget planning, financial forecasting, reserve funding strategy, and ongoing financial consulting for HOA's, condominiums, property managers, and other community associations.
Q: Who typically needs your services?
A: In addition to the items mentioned above, I help the Board of Directors better understand their overall financial documents and outlook. All presentations are via Zoom.
🧮 Reserve Planning
Q: Why is reserve planning so important?
A: Reserve planning prepares for major repairs and replacements, prevents special assessments, and maintains property values. Reserve planning shows that the Board of Directors is proactive, responsible and financially organized. It builds trust with homewoners and helps ensure smooth operations and informed decision-making.
Q: We already have a reserve study. Why would we require additonal help with our reserves?
A: Reserve studies will be best implemented when understood. Often times, the component list and / or the lifespan is inaccurate and should be adjusted to best serve the community. Reserves are also subject to changes, additions and deletions, or increases and new schedules should be provided every year.
Q: How often should we update our reserve plan?
A: Some states require mandatory updates every 3 - 10 years by reserve study providers licensed by that state. For any year not incurring a mandatory update, the reserve plan should be reviewed and made current every year.
📊 Budget Planning
Q: Can you help us create or revise our annual budget?
A: Absolutely. I can help the Board of Directors create realistic and transparent budgets that account for operational costs, reserves, and future needs.
Q: How do you handle associations with limited reserves or tight budgets?
A: I begin by assessing your current financial position and then develop a tailored roadmap to achieve long-term sustainability. This often includes phased strategies, prioritized spending, and exploring alternative funding options to support and strengthen financial health.
📈 Financial Consulting
Q: What makes your financial consulting different?
A: I combine technical reserve analysis with strategic budgeting insights, offering personalized guidance that helps Board members make informed, short or long-term decisions.
Q: Do you provide ongoing support or just one-time services?
A: Both! I offer one-time reports and consulting, as well as ongoing financial support to guide your HOA throughout the year.
🤝 Working Together
Q: How do we get started?
A: Just reach out via the contact form and we can set up a free consultation.
Q: How do you price your services?
A: I offer transparent, upfront quotes or an hourly rate.