A site-visit based Reserve Study Update is a slightly less time-consuming and less expensive level of service. This is because Updates do not include measurements and we rely on the credibility of an existing Component List from a prior Reserve Study. The prior Reserve Study may have been prepared by Association Reserves or a competitor. All Components are inspected, for the purpose of updating Useful Life, Remaining Useful Life, and Replacement Cost estimates. Some measurements may be spot-checked for accuracy and component additions or deletions may be made. Reserve Study Update- WSV is a level of service that is appropriate for clients to choose every 2 to 5 years. Clients with long or complicated Component Lists or with major repair or replacement projects approaching or recently completed, may choose this level of service on a more frequent (1 to 2 year) basis. We document your site-visit based Component List update with a full-color photographic inventory. It is on the basis of the updated Component List that we are able to calculate your current Reserve Fund Strength. Finally, we craft a custom Funding Plan that allows for timely repairs and replacements, with an emphasis on avoiding special assessments.
Reserve Study Update
- Feb, 21 2018
Make wise Reserve decisions all through the year, not just at budget time! https://t.co/IhCr4IgWiA
- Feb, 20 2018
Can you use Reserves to pay the cost of modifications necessary for your owners "aging in place"? https://t.co/ncJjRIE2Ba
- Feb, 19 2018
You're required to have them, but what are "adequate Reserves"? Read the new definition here! https://t.co/MwSFPlXUQv