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.
A typical condominium Reserve Study has 30 to 50 components that meet the criteria for reserve funding according to National Reserve Study Standards, with their associated expenses occurring at varying intervals throughout the 30-year study period.
