Helping HOAs plan for the future…
Want to know more about:
Reserve studies as required by Civil Code
Reserve studies for transition from developer to associations
Reserve studies and maintenance plans.
We can help.
Call us today! 800-301-3411
Who We Are & What We Do
A Reserve Study is a budget planning tool that identifies the current status of the reserve fund and establishes a stable and equitable funding plan to offset the anticipated future Major Common Elements or Common Area expenditures. The Reserve Study consists of two parts: The physical analysis and the financial analysis.
One of the primary business responsibilities of a Homeowner Association or Condominium Development is maintaining and preserving property values of the Association’s Common Element or Common Area which results in protecting the value of the property of the owners that live there. To do this properly, Associations must develop funding plans for future repair, maintenance or replacement of Major Common Elements or Common Area components.
Why Reserve Funding?
There are many benefits to having a Reserve Study done. First, it meets legal, fiduciary and professional requirements. It provides for the planned replacement of major items that must, at some point in time, be replaced, as major items deteriorate during use. It minimizes the need for Special Assessments. And lastly, a replacement fund enhances resale values.