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735 N. Water Street, Suite 175
Milwaukee, WI 53202
800-221-9882
Helping you understand community association business with industry leading insight.
When it comes to a building or home, the entire structure is only as strong as its foundation. Similarly, when it comes to planning for your community’s future, the scope of work, or component inventory, serves as the foundation for a reserve study provider to conduct a thorough review of your property.
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The classification of property helps assure that future boards understand whether reserves, the operating budget or homeowners fund certain repairs or replacements and also assists in preparing annual budgets. Furthermore, it helps establish an accurate scope of work when commissioning a reserve study.
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When you go to the doctor for your yearly checkup, chances are you’re seeing a family doctor or general practitioner. If your doctor identifies an underlying health issue with your heart for example, they will point you in the direction of a cardiologist for further testing to uncover the root of the internal issue.
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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.
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As a board member, you have a fiduciary responsibility to your community to act in every homeowner’s best interest. While this can be difficult, especially in a position of governance, it’s imperative that Boards maintain this obligation.
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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.
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A reserve study is a vital capital planning tool for HOAs and condominium associations that provides directional guidance and an in-depth analysis of community assets.
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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.
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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.
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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?
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