Services

A reserve study assists in the preparation process of an Association’s long term Budget. A Reserve Study identifies those common area assets that require reserve funding and then projects their associated costs into the future.

The Financial Analysis of the Reserve Study will evaluate the current status of the Reserve fund, and provide a recommended contribution rate (the funding plan) that should be going into the Reserve fund on a periodic basis.

The Physical Analysis consists of collecting quantities, Remaining life, and the present and future cost of each component and then provide the data to project and recommend funding goals.

Level of Service

Level One
A Level I study is a full or “1st time” reserve study. This level of service includes:
Site visit, with inspection and inventory of components
Life estimates and replacement costs are determined
Financial analysis is conducted based on the useful life, remaining useful life, and replacement costs of the individual components

Level Two
A Level II Reserve Study is an “update” reserve study that includes:
Site visit, inventoried components are re-evaluated
Replacement costs, useful life, and remaining life are re-estimated
A financial analysis is then conducted on these re-evaluated components

Level Three
A Level III reserve study is an “update” reserve study without a site visit.
Collect data from vendors, management and contractors
Re-evaluate the replacement costs, life estimates for each component