Community Association Reserve Studies
Condominiums, Churches, Time Share Resorts, HOA’s, Apartments
We believe that good long term planning begins with a good Reserve Study. Proper planning is needed for all kinds of organizations including associations or common interest developments such as a condominiums or timeshares as well as private organizations such as apartments and commercial buildings.
Our Unique Complementary Offerings
- Board & association presentations
- Unlimited what-if scenarios
- Weekly progress reports
- Standard 30 day turnaround
- Color report for each board member
- RCW disclosures for inclusion in the Annual Report
Study Benefits
Decrease Unexpected Expenses
Our report provides an analysis of common area assets and develops a long term plan for all significant maintenance, repair and replacement expenses.
Explain Budget Increases
If an increase in assessments is required, our reserve study will provide members with the justification required. Whether through regular assessments or special assessments we provide a detailed report explaining the need.
Increase Member Trust & Support
We believe that sharing information, distributing our reports, increasing awareness and educating the members of the true cost of common area assets goes a long way.
Maintain Common Area Assets
Eventually items need to be maintained, repaired or replaced. Our reports provide a road map with recommendations that bring the resources required to maintain and replace common area assets. This maintains and even improves aesthetics and culture.
Study Highlights
Realistic Projections
Our projections are created specific to your needs, history, environment and desires.
Photographic Inventory
This photographic inventory helps you to associate with, understand and locate assets.
Life & Valuation Estimates
Each reserved asset is inventoried with Useful Life (UL) and Remaining Useful Life (RUL) estimations, including current and future replacement costs.
Report Snapshot
Inform and explain the results with our unique, low cost, effective one-page report snapshot.
Educational
Our exclusive report explains the reasoning and justification of recommendations and decisions.
Easy to Understand
Our recommendations are easy to understand and implement.
Levels of Service
Level I: Full Reserve Study Funding Analysis and Plan.
This is the most labor intensive Reserve Study. It includes both a Physical and Financial Analysis. The Component Inventory list and current component Condition Assessments with Life and Valuation estimates are determined from a visual on-site inspection. This information is used to conduct the Financial Analysis which includes the current Fund Status and our recommended Funding Plan. A Full Reserve Study is recommended when a previous Reserve Study is not available, or substantial time has lapsed since the last study (10-15 years) or there are concerns with an existing Reserve Studies Component Inventory or measurements.
Level II: Update with Visual Site Inspection.
This report updates both the Physical Analysis and Financial Analysis of an existing report. A site inspection is conducted to verify and/or make adjustments to the existing Component List, Condition Assessments, Useful Life and component Valuation Estimates. The Financial Analysis is also updated, including the current Fund Status and recommended Funding Plan. A Level 2 Report is recommended at least every three years, before and after major projects and as required by state law.
Level III: Update with No Visual Site Inspection.
This report updates the Financial Analysis only. The current Fund Status and Funding Plan is updated using research conducted with Board members, vendors, association managers and information contained within a prior Reserve Study. A level 3 report is recommended to review, adjust and verify that the existing funding plan is accurate and suitable for current economic conditions.
