Five-year reserve planning My HOA Budget

Virginia Beach, Virginia condo association

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The Westin Virginia Beach

The Westin Virginia Beach is a condo association in Virginia Beach, Virginia. This profile tracks monthly dues $1,000–$1,200/mo, 119 units, built in 2008, reserve study status not yet verified, along with amenities, r...

condo Public records Reserve health: No study on record Browse Virginia Beach communities Virginia reserve laws

Profile 56% complete — board members can fill in the rest

HOA dues, reserve study, and community facts

Units 119
Year built 2008
Monthly dues $1,000–$1,200/mo
Reserve health Check my risk
Active listings 4
Median sale price $850K

Amenities

PoolGymConciergeElevatorParking garage

Board and management

No board listed — who's managing your dues?

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Reserve study and funding

The Westin Virginia Beach has no reserve study on record. Without one, there's no way to know if dues cover what's coming.

Check what's missing

5-year outlook

Will you get hit with a special assessment?

Special assessments can run into thousands per unit when major work outruns reserves. We model that risk for The Westin Virginia Beach based on reserve health, building age, and Virginia requirements — so you see it coming before the board votes.

Special assessment risk Planned dues increases Reserve shortfall forecast
I am a...

Values used: scaled defaults where community data is unknown — starting reserve (scaled from unit count at $15k/unit); annual opex (scaled from revenue at 84%).

Try it on a typical condo

A mid-size urban condo, five years out

Starting reserve $1.5M · $500K/yr dues revenue · $420K/yr operating expenses · $1.5M of reserve-study capital work over five years. Switch on the levers your board actually controls and watch where the reserve lands.

5-year ending reserve$1.81MPlan is healthy
$0HEALTHY TARGET · $1.0M202620272028202920302031$1.8M
Annual dues increase+5% compounding · $1.43M/yr → $1.82M/yr by 2031
5%
Operating expense growth+4% YoY · insurance, vendors, utilities · $1.20M/yr → $1.46M/yr by 2031
4%
Board member next stepTurn this scenario into a board-ready next step.

Send the reserve-planning context and keep the follow-up focused on board decisions.

Plan our next five years

About The Westin Virginia Beach

The Westin Virginia Beach Town Center Residences is a 119-unit luxury condo occupying the upper floors of a 38-story tower (tallest building in Virginia at completion, 2008). Below the residences sits the Westin Hotel, providing 4-star hotel services. Amenities include indoor heated pool, fitness studio, owners’ lounge, 24-hour concierge, and private residential lobby. Units range from 900 to 4,000 square feet.

What we know

  • Units: 119 residential condominiums
  • Year built: 2008
  • Stories: 38
  • Address: 4545 Commerce Street, Virginia Beach, VA 23462
  • Monthly dues: $1,000–$1,200/mo
  • Amenities: Indoor heated pool, fitness studio, owners’ lounge, 24-hour concierge, private residential lobby, parking garage
  • Active listings: 4
  • Median sale price: $850K
  • Floor plans: 1BR–4BR, 900–4,000 sq ft

Reserve health

Reserve health hasn’t been verified for The Westin Virginia Beach yet. Before you approve a budget, pay a special assessment, or close on a unit here, Virginia law defines exactly what reserve records a condo must keep and what owners can request — see Virginia condo reserve funding rules.

What’s still missing

  • Management company name
  • Reserve study date and reserve balance
  • Special assessment history
  • Board roster
  • Community photos

For board members

If you serve on The Westin Virginia Beach board, you can claim this page to add reserve data, your board roster, and community photos. A complete profile helps current owners and prospective buyers make informed decisions.

Virginia laws that apply here

Condo board meeting notice

Virginia condo board meeting notice rules, in plain language

How Virginia's Condominium Act handles executive board meeting transparency — open meeting mandate, the 21-day/7-day rule that applies to unit-owner meetings but not board meetings, and the two-vote executive session structure.

Va. Code § 55.1-1949 — Virginia Condominium Act, meetings of unit owners' association and executive board Condo reserve funding

Virginia condominium reserve funding rules, in plain language

How Virginia's Condominium Act actually handles reserves — through a mandatory five-year reserve study that condo instruments can vary — and what that instrument-variation clause means for a board, owner, or buyer reading a specific declaration.

Va. Code § 55.1-1965 — Virginia Condominium Act, annual budget and reserves for capital components HOA board meeting notice

Virginia HOA board meeting notice rules, in plain language

How Virginia's Property Owners' Association Act handles board meeting transparency — open meeting mandate, executive session limits, and owner comment rights — and why there is no minimum day count for board-only meeting notices.

Va. Code § 55.1-1816 — Property Owners' Association Act, meetings of the board of directors Reserve funding

Virginia HOA reserve funding rules, in plain language

How Virginia's Property Owners' Association Act actually handles reserves — through a mandatory five-year reserve study, annual review, and required budget fields — and what that means for a board, owner, or buyer who needs the numbers to mean something.

Va. Code § 55.1-1826 — Property Owners' Association Act, annual budget and reserves for capital components

Is this your community?

Board members and property managers can claim this page to add photos, amenities, board roster, and reserve details. Make The Westin Virginia Beach look as good online as it does in person.

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Next step

Need documents from The Westin Virginia Beach?

We can help you request reserve studies, budgets, and meeting minutes. Pick the option that fits.

I own here — request documents I'm buying — request documents