We subscribe to a media monitoring service that scours the internet for any “mention” of our company name. We do this to measure our influence in the Reserve Study industry and identify hot issues or trends.
I found this article thought-provoking. I read the article from the point of view of a professional who has been serving non-profit community association clients for over 30 years.
Yes, it is a Reserve Study prepared for your association, and you are the client. But in this case, the client is not always right.
A Maryland court recently entered a $1M judgment against the Tomes Landing Condominiums and its management company, MRA Property Management, for providing misleading budgets to prospective purchasers. Read more here.
In the live Q&A session after a one of last week’s webinars, one participant asked when it was best to perform a Reserve Study for their association… suggesting that he thought it would be best in the last quarter of a major component’s life.
I was recently contacted by an association explaining their strategy of not funding their Reserves according to the recommendation in their Reserve Study. They looked at that recommendation, then decided on a smaller contribution rate that they felt was reasonable (about half, they explained).
