I recently conducted a site inspection at a property with a large air conditioning chiller unit on the roof. The property was about 15 years old, and the chiller was original. A replacement chiller of this type should cost about $50,000 (installed) and last about 20 years.
The four-part test for determining if a component is appropriate for Reserve Funding is as follows: Is it a common area maintenance responsibility? Is it
All Association-governed communities are “aging in place”, and are moving forward towards the time they will have potentially major, unexpected expenses. But that is the
The “Component List” serves as the foundation of a Reserve Study by spelling out the scope & schedule of all necessary repairs & replacements. In this eBook, you’ll learn: -Component List basics -Components to include -Useful life & cost information -Importance of updating -Why Reserving is important
Can we spend our Reserve Funds on this project? This is common question
raised by Boardmembers and Manager of condos, HOAs and other forms of
association governed communities.
An important decision point for Managers and Boardmembers is to properly account for their expenditures. So when a sprinkler, light fixture, lobby chair, or roof repair is done,
