Many HOAs would like to know how their association compares with others in their area. Measuring one's own financial situation against that of one's peers is often a good way to gauge financial solvency and level of preparation for things like capital improvements or unforeseen repairs and maintenance. Some of the answers many boards and managers are interested in knowing include:
• How do our assessments compare with communities of similar size?
• How frequently do other associations update their reserve studies?
• Is our municipal reimbursement similar to other associations of comparable size?
• Are our operating expenses higher or lower than other comparable