Reserve Studies help you outsmart disrepair at your property. In this eBook, you'll learn about the three key results of a Reserve Study: the Component List, Reserve Fund Strength, and the Funding Plan.
Reserve Fund Strength is a calculated ratio that compares the actual amount in Reserves to the current value of Reserve Component deterioration. In this eBook, you'll learn: -How much is enough for your Association -Fully Funded Balance basics -What % Funded means and how to calculate it -Why % Funded matters
The "Component List" serves as the foundation of a Reserve Study by spelling out the scope & schedule of all necessary repairs & replacements. In this eBook, you'll learn: -Component List basics -Components to include -Useful life & cost information -Importance of updating -Why Reserving is important
The "Funding Plan" is a calculated plan of regular monthly assessments and/or special assessments necessary to perform common area repairs & replacements in a timely manner.
To repair now or to repair later is the age-old dilemma associated with owning or managing a building or community. Sticker shock from contractors is all too common when it comes to receiving a proposal for any type of maintenance or repair work.
A map is extremely helpful when departing on a journey, but if there are unexpected roadblocks, even the most experienced traveler needs help arriving at the intended destination. A reserve study is a map to the future, but what's a manager or board to do when roadblocks arise while trying to follow the directions?
