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
- 5 hours ago
Free webinar today with CE Credits: the Reserve Funding Plan. Watch as I compare Cash Flow and Component Methods yr… https://t.co/12q5UL3E2K
- Aug, 14 2018
What happens when you underfund Reserves? Hint: bad things... just like when you don't pay any other bill! https://t.co/m5PXw5SWY3
- Aug, 13 2018
For the future of your association, get confident about the size of necessary Reserve contribs at your assoc. Free… https://t.co/0qjnR3tEpO