Assessments help pay a variety of expenses for the association. The most common expenses are the association’s landscaping, utilities, administrative costs, insurance, management fees, maintenance of the entrance sign, and maintenance of amenities, etc.

In addition to covering day to day expenses, assessments also help fund the association’s reserve account. The associaton’s reserve account is used for the repairs and replacement of the HOA’s common properties. Often times the reserve account is referred to as the “rainy day funds.”