Because there is no way for reserve providers to evaluate hidden systems, and therefore generally excluded from a reserve study. However, we recommend that evaluations and inspections take place to identify the condition of these systems to provide notice of any concerns and anticipated expenses. The plumbing system is usually evaluated by plumbers utilizing […] read more »
Tag Archives: Physical Analysis
Step 1: Board Meeting The Board of Directors has the responsibility to do what is in the best interest of the Association and has significant influence; therefore, the first step is for the Board to meet. This meeting should discuss the results of the reserve study. Invite the Association Manager to attend. The purpose of […] read more »
This is the first in a series of articles on Building Components and the maintenance required to the maximize their life. The reason to get the maximum life out of any component is to keep the monthly contribution as low as possible while still contributing enough to properly, proactively and professionally maintaining the property so as to […] read more »
Level I: Full Reserve Study. 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 […] read more »
Project collaboration makes a big difference in the making or breaking of a project. Consulting companies such as ours, often work independent of their clients for the most part. Meaning we are engaged to complete certain deliverables, that if not monitored closely, can be completed without enough client interaction and feedback. This is especially the […] read more »
We are often asked about what the different terms within a reserve study mean. Here is a list of some of the most common terms and definitions. Cash Flow Method A method of developing a Reserve Funding Plan where contributions to the Reserve fund are designed to offset the variable annual expenditures from the […] read more »
In general terms a Reserve Study is a long term plan that indicates how much money needs to be set aside to pay for future expenses. Let’s say you live in a condominium, you share common assets such as roofs, siding, pools, cabanas, asphalt, parks, etc. These assets have maintenance and/or replacement expenses that can […] read more »