Insights from local experts and executives The Region THIS ISSUE: [30] Massachusetts [32] Maine [34] New Hampshire [36] Rhode Island MASSACHUSETTS Increase Reserve Fund Contributions Without Assessing All Unit Owners [by Janet Aronson, Esq.] One issue that many associations face is underfunded reserve accounts. Often, after years of underfunding, current boards are faced with the difficult problem of increasing monthly fees to catch up and/or balancing the reality of insufficient reserves with assessments. However, there is usually a hesitation to increase common expenses for the 30 CONDOMEDIA July 2021 purpose of funding a reserve account, as reserve funds are not viewed as a necessary expense. While it is prudent to have sufficient funds in the reserve account, the reality is that most associations try to cut expenses, and unless the funds are needed in the near future, it is frequently considered a nonessential issue.