After 30 years preparing Reserve Studies, helping associations make wise decisions about their capital budgets to avoid surprises and the high cost of deferred maintenance, Robert Nordlund of Association Reserves has joined the national “Think Tank” of the Foundation for Community Association Research (FCAR) to help the industry on a broader spectrum. Watch a brief video introducing 2016 Think Tank members and projects here.
We all know that scarcity causes conflict and stress. Scarcity of Reserves causes deferred maintenance and special assessments, drags down property values, and causes other related problems. How can an association avoid these problems and emerge with sufficient funds to maintain the community, maximizing property values and pride of ownership?
Within a Reserve Study, the Reserve Component List contains life and cost estimates for the major assets the association is obligated to maintain, thus establishing the scope and schedule of Reserve projects.
Finally…
The DIY Reserve Study Website is Here
Sometimes, the answer is no. Yesterday a former client asked about their Reserve Study which we completed back for their 2010 Fiscal Year.
Many, if not most Governing Documents require the Board to set aside “adequate Reserves” to care for the common areas.
