This topic comes to you this month because the Board of a current client Association is in hot water because of what they didn’t disclose to their homeowners and to their prior Reserve Study consultant. We hear disclosure problems so often in the news nowadays that it is no longer surprising – a CEO of a large company sells stock in the company for a big profit right before bad news hits.
Keeping adequate Reserve Funds for the repair and replacement of common area facilities is an essential board responsibility in all Association governed communities.
The Reserve Component List forms the foundation of every Reserve Study, detailing the scope and schedule of all anticipated Reserve projects. Reserve Fund Strength (also known as Percent Funded) and the Reserve Funding Plan are both calculated based on the repair &
Some time ago, Petromat, a brand name for what is properly termed Pavement Reinforcement Fabric (PRF,) entered the pavement refurbishment scene with loads of promise. Unfortunately it has become “out of fashion” this decade, and discounted as an ineffective and potentially hazardous installation.
We just finished working on a Reserve Study project involving three different Associations, built at different times along the growing edge of a major metropolitan area. Originally (40-50 years ago) the area was considered “horse country”, featuring rustic homes, stables,
We were recently on a site inspection for a luxury mountain timeshare. It was a relatively new property, and the engineer had plenty of tales of the “kinks” that he had to work out to get the facility running smoothly.
