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Somebody nice will get in touch real soon.
One of the primary business responsibilities of a Homeowner Association or Condominium Development is maintaining and preserving property owner values of the Association’s Common Element or Common Area which results in protecting the value of the property of the rs 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. 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.
Jasmine BldgThere 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.
The Board was very pleased with the Report in general, and would like to thank you for being so thorough.
Nice to meet you…
Dan Huntley has over 35 years, Tammy Axton over 20 years and Ray Axton over 20 years experience that they bring to the table to assist their clients in the area of common interest subdivisions (homeowner associations and condominiums). Dan’s knowledge and expertise has been used by attorneys, management companies, title companies, engineers, developers, boards of directors for condominium and homeowner associations, and condominium and homeowner association committees.
Dan is a certified Reserve Specialist by Community Association Institute (CAI) and a certified Professional Reserve Analyst by Association of Professional Reserve Analysts (APRA). Tammy and Ray are certified Professional Reserve Analyst by APRA. Dan is a member of and has taught classes for CAI and APRA.
Dan owned one of the largest homeowner association management firms in northern California, which was sold in 1987, with over 7,000 units under his management.
Reserve Studies by Reserve Funding staff have expertise which extends, but is not limited to, assistance in budget preparation, reserve study preparation, asset management, liaison between developer and association during the transition process and maintenance plan development.
Reserve Studies by Reserve Funding staff have the ability to work with many entities to bring about a smooth and reliable solution to today’s problems surrounding homeowner associations and day-to-day operations.
You can rely on Reserve Studies by Reserve Funding because it will be here today and tomorrow to serve your needs and provide affordable reserve study and maintenance plan services.
Licensed engineers and other reliable sources are used to develop costs and life cycles for all reserve components.
Experienced in condominiums, homeowner associations, planned developments, low rises, mid rises, high rises, moorage docks (boat and houseboat).
