Budgets

Nevada HOA boards can avoid competitive bidding by never soliciting bids at all. NRED has acknowledged the loophole, the Commission has authority to address the fiduciary gap, and neither has solved a problem known for years.

Nevada is moving to strengthen HOA reserve funding rules. But a stronger reserve standard is only useful if boards clearly show owners how they intend to meet it. The missing link may be a clearly identified annual Reserve Budget.

Nevada law gives developers extraordinary power to decide what a common-interest community will become before homeowners have any meaningful voice. That may be workable for ordinary common-area maintenance. But when amenities depend on outside users, projected revenue, specialized staffing, regulatory compliance, or future market conditions, the issue changes. The developer is no longer merely adding a neighborhood feature. The developer is embedding a business assumption int