Reserves can be the most challenging part of the budget to board members. It is essentially setting money aside that will not be used right away or even for many years in some cases. Additionally, it can be difficult to determine how long something will last and what it will cost to replace. Some communities […]
board members
Who Benefits from a Reserve Study
Reserve studies are a great tool to project reserve item quantity sizes and future costs. They contain detailed information about the association’s long-lasting capital reserve items—things like roofing, painting, paving, clubhouses, recreation areas and various other items. Reserve studies project how long an item will last (useful life), how long that item has before it […]