Asset PalIllustrative example — not real association dataIllustrative example. Maple Court Condominiums, its people and every figure on this page are invented to show the format. Asset Pal builds this from your association's own reserve study and records.
Maintenance need vs. reserve funding options
Maple Court Condominiums (48 units) · For board meeting of March 18, 2026
The maintenance need
| Component | Roof, asphalt shingle (Reserve study #R-07) |
| Asset Health score | 38 / 100 — At Risk |
| Expected replacement | In 2 years (study assumed 6) |
| Estimated cost | $185,000 |
| Reserve balance | $112,000 |
| Shortfall | $73,000 ($1,520 per unit) |
Funding options
| Option | Owner cost | Advantages | Trade-offs |
|---|---|---|---|
| Raise contributions (24 months) | +$63/unit/mo | No interest; spreads cost | Largest monthly increase |
| Special assessment | $1,520/unit once | Fastest; no interest | Large one-time burden; check document limits |
| Bank loan, 5 years (~6%) | ≈ $29/unit/mo | Lowest monthly cost | ≈ $11,700 total interest; lender approval |
| Blend: half contributions, half assessment | +$32/unit/mo + $760/unit | Balanced burden; no interest | Two changes to communicate |
Questions for the board
- Do our governing documents limit special assessments without an owner vote?
- Can owners absorb a one-time charge, or is a monthly increase easier to manage?
- Does each option keep reserves out of deferred-maintenance years in the five-year plan?
Board decision
Option chosen: ________________________________________________
Motion by: ____________________ Seconded by: ____________________
Vote — In favor: ______ Opposed: ______ Abstained: ______