Avoiding the Next Special Assessment: A Smarter Way to Plan
Avoiding the Next Special Assessment: A Smarter Way to Plan
The growing trend of special assessments
Across the country, condo associations are facing the same reality: special assessments are becoming more common — and larger. Aging buildings, rising construction costs, and inflation are taking their toll. Even well-meaning boards can get caught off guard when a major expense hits before the reserves are ready.
Why special assessments really happen
In most cases, special assessments aren’t the result of mismanagement — they’re the result of missing information. Many boards rely on outdated reserve data or optimistic assumptions that don’t reflect current construction costs.
Common causes include:
Roofs or pavement reaching the end of life sooner than expected
Inflation outpacing old cost estimates
Years of flat-fee budgeting without increasing reserve contributions
Deferred maintenance compounding into bigger repairs
Shifting from reactive to proactive
Boards that plan ahead avoid financial stress and protect property values. A simple ReserveScan™ estimate can answer three important questions:
Are our reserves strong, fair, or at risk?
How much should we be contributing each year to stay on track?
What happens if we delay a major project by a year or two?
Predictability is powerful. When owners know the board is planning responsibly, it builds trust and stability within the community. Lenders and insurers notice that too.
How ReserveScan™ makes it simple
ReserveScan™ combines owner-supplied photos, budget data, and satellite imagery with trusted national cost baselines to give boards a data-backed snapshot in days — not weeks. It’s an affordable way to see where your reserves stand before your next budget meeting or before ordering a full engineering study.
The earlier you identify the shortfall, the easier it is to fix.
Plan smarter. Spend wiser. Avoid the next special assessment.
Get your preliminary ReserveScan™ estimate at ReserveScan.com and find out exactly where your association stands before the next big repair hits.
