Home / HOA glossary: assessments, reserves, CAM, ARC, estoppel
HOA glossary: assessments, reserves, CAM, ARC, estoppel
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Assessments are the charges owners owe under the governing documents. Reserves are funds set aside for major repairs. CAM often means community association management. ARC is the architectural review path. An estoppel states amounts owed so a sale can close. Definitions here are editorial, not legal advice.
What is an assessment?
A sum the association levies on owners under the declaration and budget. Regular and special assessments are different events. Read the documents, not a portal label.
What are reserves?
Money earmarked for large, infrequent repairs. A reserve study is a planning document, not a bank balance.
What does CAM mean?
In this brief, community association management — the labor of running the association. It is not a software SKU.
What is ARC?
The architectural or alteration review process in the governing documents. Software can log a request. It cannot replace the committee.
What is an estoppel?
A statement of what an owner owes, used in a sale. Ask whether your software can produce one that your attorney will actually sign.
Questions asked in this shape
Is this legal advice?
No. Governing documents and state association statutes control. We are not a law firm.
Sources
- FTC consumer-protection context (not a product endorsement) (accessed 22 Aug 2026)
- Community Associations Institute (trade association) (accessed 22 Aug 2026)