Reserve studies are an essential part of property management, especially for larger community associations. Many communities get them performed and rely on them for the long-term planning part of their budget. Nevertheless, some communities are reluctant to have one done. The following are five myths regarding reserve studies. Myth 1: Reserve studies are too expensive […]
reserve study process
Understanding Your Reserve Study
The first time you receive a reserve study, it can be a lot of information to take in. Sometimes the client can be surprised at the suggested funding amounts. This can be referred to as “sticker shock.” However, it is important to remember that this is the recommended amount. This recommended amount is not a […]
Reserve Study 101
A reserve study is a budget planning report for HOAs, condominiums, co-operatives, community development districts (CDDs), and other associations. The reserves are the long lasting common elements that need to be replaced in community associations. In essence, a reserve study can be thought of as a road map for a community to have an idea […]
Why I Do Reserve Studies
There are many reasons that doing reserve studies for community associations are enjoyable, satisfying and interesting. They’re All Different Every association is different, with different assets, different ages, and different levels of funding. It is never boring to see a new community. It is fun to get to look at the different types of real […]