HOA is for both operational and capital expenditures. Therefore each month of HOA not only pays for the landscaping and pool cleaning etc but it should also set up a reserve for long term depreation. That would be something like a roof on a community area, replacement of workout equiptment etc. What you may want to find out is what the reserve is. You can also ask for the depreciation schedules to see if the HOA is fair or unfair.
