FAQ: 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.
READ MOREWhat 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.
READ MOREWhen 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.
READ MOREHow 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.
READ MOREAre 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.
READ MOREWhat 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.
READ MOREThree 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.
READ MOREWhat to Look for in a Reserve Study Provider
Anyone on a board of an HOA or condominium association knows the tremendous value of a quality reserve study. Equally important is partnering with an experienced and qualified reserve study provider. But what makes a good reserve study provider?
READ MOREInsurance Appraisals Minimize Risk
We are all much more familiar with insurance appraisals as it relates to buying our individual home, but there tends to be less clarity around the function of an insurance appraisal as it relates to homeowner and condominium associations.
READ MOREWhat is the Purpose of Reserve Funds?
Common-interest developments or community associations are the fastest growing housing sector today. These types of associations exist as condominiums, cooperatives, vacation timeshares, planned unit developments and more. According to the Community Associates Institute, as of 2020, over 25% of the entire US population lived in a community association.
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