FF&E Reserve Governance
Governs funding of the FF&E replacement reserve, eligible uses, draw documentation, and reporting to ownership.
Why This Matters
The reserve is ownership's money set aside so the property can renew itself without a crisis, and every draw is scrutinized against the management agreement sooner or later. Using reserve funds for operating shortfalls or ineligible repairs is a fiduciary breach, not a bookkeeping choice. Well-documented draws are what keep renovation approvals fast.
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