Single family dwellings, master associations, metro districts, townhome and condominium owners are different styles of communities with many amenities. What do they all have in common with each other? Residents living within these communities are required to follow rules for the common good of everybody utilizing the amenities shared by the community by paying HOA dues. Some of these shared assets include sidewalks/paths, clubhouses and swimming pools, parks, heating and cooling equipment, roofs, fences, etc.
HOA boards consist of elected community members who are tasked to oversee the common amenities and physical assets of the community as well as the financial wellbeing of the HOA. They ensure that these components retain their value over time. A Reserve Study should be conducted by a professional Reserve Specialist on behalf of the HOA to properly budget for any maintenance or improvements of the amenities and assets. We know what to look for and how to properly develop an accurate and reliable component list.
What is a HOA Reserve Study
A Reserve Study is a tool used to assist in the budget preparation process. A Reserve Study identifies those common area assets that require reserve funding and then projects their associated costs into the future. The Reserve Study will evaluate the current status of the Reserve Fund, provide a recommended contribution rate and the funding plan that should be going into the Reserve Fund on a regular basis.
Some of these shared assets include walkways, shared rooms, clubhouses and swimming pools, parks, heating and cooling equipment, roofs, fences, etc.
Why use us? We offer cost effective services that enable our clients to make sound business decisions and obtain peace of mind. In order to achieve our vision, we apply our core skills of information gathering, analysis and compilation. Our goal is to offer the best advice, with the best service, using the industry’s most capable team of employees. Our Reserve Study product continues to receive high praise from homeowners, board members, property managers and industry professionals because of its readability, photographic inventory, clear guidance and solid footing on which all assumptions and recommendations are based.