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.
Many times in a Reserve Study you will see multiple assets grouped together, like all the roofs on all buildings.
