Supply Chain Issues and Rising Costs – Best Practices for Addressing Your Community’s Capital Planning Needs
We are often asked, “how can my association account for supply chain issues and rising costs when addressing our capital planning needs?” Unfortunately, this question often times arises when a community is in the thick of addressing urgent capital projects.
Matt Ferguson Receives Community Associations Institute’s Reserve Specialist (RS) Designation
Matt Ferguson, RS, is a member of Reserve Advisors’ Engineering Team, serving the firm’s clients from its Dayton, Ohio office.
The Importance of Reserve Studies: What We Can Learn From The Champlain Towers Collapse
In the wake of the tragic collapse of the Champlain Towers Condominium in Surfside, Florida, many people want to know how such a thing could happen.
Frequently Asked Questions: Reserve Studies & Aging Infrastructure
The recent highly-publicized Surfside tragedy has motivated many property managers to contact us with questions about reserve studies for aging infrastructure. Below are answers to the most common questions we receive.
What is Included in a Reserve Study?
A Reserve Study is made up of two parts, as defined by Community Associations Institute (CAI) and the Association of Professional Reserve Analysts (APRA) – the Physical Analysis and the Financial Analysis of the common elements.
When Should a Reserve Study be Done?
A reserve study is a tool used to provide an opinion of the annual reserve contributions required to support the reserve expenditures at a property.
How Much Should a Condo Have in Reserves?
Boards and owners alike must balance the need to keep adequate savings for future projects with the desire to keep monthly or quarterly fees at reasonable levels.
Are Your Reserves Fully Funded?
Are your reserves fully funded? It’s a great question, but at the risk of making this sound like a legal blog, it depends. In order to answer the question accurately, we first have to define the term fully funded.
What Does a Reserve Study Do?
A Reserve Study is a long-term budget planning tool that identifies the common elements belonging to an Association, and recommends a funding plan to maintain, repair or replace these common elements over a specified time period.
Three Reasons Why Your Condo Association Needs a Reserve Study
If you love where you live and your condo association is pretty great too, a reserve study can help ensure everything stays that way for you and others who live there after you.
