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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.
No matter how long an association has been established or how many reserve studies they’ve completed, even the most experienced properties face challenges that only periodic reserve study updates can help mitigate.
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It’s rare to find two condominium associations with identical footprints — let alone facing nearly identical capital planning challenges. Yet that was precisely the case for two long-standing Reserve Advisors clients who began their capital planning journey in 2012.
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This webinar covers essential strategies for building a solid financial foundation for community associations, focusing on reserve funds and capital planning.
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Updating your association’s reserve study is essential for the financial and physical wellbeing of the property and residents alike. Updates keep funding plans and repair and replacement schedules on track, and current and future homeowners will benefit from stable, equitable reserve contributions.
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Reserve studies are a useful capital planning tool for any association, but in order for your reserve study to work best for your association, it’s crucial that you choose and implement the correct reserve study service. There are four levels of reserve studies as defined by the Community Associations Institute. It’s important to understand the scope of each and how they can contribute to your association’s long-term success.
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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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Weather plays a large role in the repair and replacement schedule of an Association’s common elements, which in turn affects the financial profile of the Association.
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Keeping your reserve study up-to-date is critical to enabling boards to make informed decisions that maintain the investment of homeowners.
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