Assisting the Reserve Analyst - What information is helpful?
Providing the reserve analyst with as much information about the building(s) and site will help to ensure the reserve study most accurately reflects on site conditions and aligns with the overall goals of the Client. This can include providing building plans, vendor bids & invoices, condition assessments, surveys, inspection reports, common area components list and mechanical equipment schedules/lists. The more information we have the more accurate the reserve study will be... Continue Reading Assisting the Reserve Analyst >>>
Reserve Study for Condominium Communities
Condo communities typically have a large number of common area components regardless the physical size of the community; these can be challenging for a Board or Manager to keep track of and adequately budget for. Special attention should be given to "peak" years when large common area expenses like roofing, asphalt, siding and windows are projected to occur... Continue Reading About Reserve Studies for Condominium Communities >>>
Reserve Studies for HOA Community
Homeowner's Association communities will typically have fewer common area components but these are often larger expenses items such as asphalt, fencing, landscaping, underground sprinklers and detention / retention pond maintenance. These projects can be extremely costly to a community which has not properly reserved for them... Continue Reading About HOA Common Area Maintenance >>>
Common Interest Communities - Reserve Study Laws - WA State
Since a significant number of WA State Laws were implemented in 2012 there has been a bit of confusion regarding how often reserve studies need to be performed, what must be included in a reserve study and if there are any consequences for not following these laws. A reserve study completed for a common interested community must address common area components that are 1% or more than the budget... Continue Reading About WA State Reserve Study Laws for Common Interest Communities.
How Much Does A Reserve Study Cost?
The most common question we receive is: How much is the study going to cost? The amount we charge is simply determined by the amount of time needed to complete the reserve study. A very large community may take a month or longer to complete while a smaller building may only take a week or two. We provide free proposals, after some preliminary research, so you know exactly how much we will charge... Request A Free Proposal Here >>>
Reserve Study - About Percent Funded
Percent Funded is an important calculation in the reserve study. It is a barometer of the financial health of a reserve account at a particular point in time. This calculation along with other aspects of the reserve study help to provide our Clients with a comprehensive review of their reserve account, the adequacy of it and projections as to when there may be financial instability that arise over time... Learn More About Percent Funded Calculation Here >>>
Reserve Study - The Fully Funded Balance Explained
The Fully Funded Balance is an important calculation in the reserve study. While the math used to generate this calculation is very straight forward the overall concept is sometimes missed by those not familiar with the process or reasoning behind it. This video goes into more depth regarding this calculation... Learn More About The Fully Funded Balance Here >>>