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Reserve Study Funding Scenarios

All of our reserve studies contain the chart above with 6 different funding scenarios.  This is a very helpful tool when an association is planning their budget.  The chart shows 6 different reserve contributions for the upcoming year.  It then projects what their percent funded will be for the next 15 years for each contribution.  [...]

By |2020-06-09T11:12:34+00:00June 9th, 2020|Reserve Study|Comments Off on Reserve Study Funding Scenarios

Reserve Studies and Balcony Inspections in California

In 2019 SB 326 was passed which requires HOA's and condominiums to inspect their balconies at least every 9 years.  The findings of the inspection must be incorporated into the reserve study.  In some cases if the inspector finds damage repairs will need to be made.  Since this is still a brand new law there [...]

By |2020-04-14T21:45:02+00:00March 25th, 2020|Reserve Study|Comments Off on Reserve Studies and Balcony Inspections in California

Reasons Homeowner Associations Should Build up Reserve Funds

Unfortunately, many aging condominiums lack adequate financial reserves. It is essential to building up reserve funds to plan for expected and unexpected repairs and maintenance in the future. HOAs (Homeowner Associations) can’t control personal financial matters, but they must maintain adequate financial reserves for the the community they represent. Reserve studies help condominium associations learn [...]

By |2019-12-11T19:25:29+00:00July 11th, 2017|Reserve Study|Comments Off on Reasons Homeowner Associations Should Build up Reserve Funds

Why Your HOA Needs Sufficient Cash Reserves

If you live in a development with a HOA (Homeowners’ Association) you usually pay a fee to help it keep up with maintenance where you live. This can include minor things like landscaping and also major issues like plumbing problems. The type of maintenance varies depending on what your living space is like and where [...]

By |2017-06-29T20:11:17+00:00June 29th, 2017|Reserve Study|Comments Off on Why Your HOA Needs Sufficient Cash Reserves

The Ultimate Guide to Reserve Studies

It is essential that every group or person responsible for a property conducts a reserve study. A reserve study calculates the potential costs of repairs against funds the capital kept in reserve. This makes sure that funds available to meet any repair costs. Every person or group responsible for a property should carry out a [...]

By |2019-12-11T19:25:30+00:00June 13th, 2017|Reserve Study|Comments Off on The Ultimate Guide to Reserve Studies

If Your Reserve Study Says a Components Remaining Life is 0 Does the Component Have to be Replaced?

The answer to this question is not a simple yes or no.  Every year associations should review their reserve study and evaluate all components with a zero remaining life.  But it may not be necessary to replace all of them right away.  An important question to ask if you are not going to replace the [...]

By |2017-06-12T19:53:14+00:00June 12th, 2017|Reserve Study|Comments Off on If Your Reserve Study Says a Components Remaining Life is 0 Does the Component Have to be Replaced?

Reserve Studies For Condominiums: What You Must Know

Conducting a reserve study is essential for every homeowner's association. A reserve study consultant provides a vital service for HOAs centered on condominiums. They look at the funds the HOA has available and ensure these are enough to maintain communal areas. This is not only important; in California, it is required by civil code. San [...]

By |2019-12-11T19:25:30+00:00May 1st, 2017|Reserve Study|Comments Off on Reserve Studies For Condominiums: What You Must Know

How to Get a Great Reserve Study

A great reserve study results in a funding plan which meets the National Reserve Study Standards. This means that sufficient funding is available when repairs and replacements are needed. The financial responsibility of contributions should be equally divided among owners, at a stable rate over time. The funding plan should also be fiscally responsible. To [...]

By |2019-12-11T19:25:30+00:00April 18th, 2017|Reserve Study|Comments Off on How to Get a Great Reserve Study

6 Reasons a Reserve Study is Important

What is a reserve study? A reserve study is an analysis of the physical components and the financial status, including long-term planning and funding of a Condo or Homeowners’ Association. A reserve study provides you with a savings plan which allows you to make small monthly payments. This reserve account is, therefore, available for funding [...]

By |2017-04-04T15:53:29+00:00April 4th, 2017|Reserve Study|Comments Off on 6 Reasons a Reserve Study is Important

Which Components Belong in the Reserve Study?

by Michael Nash The Component List The Reserve Component List forms the basis of every Reserve Study, specifying the scope and schedule of all projected Reserve projects.  Reserve Fund Strength and the Reserve Funding Plan are both calculated based on the repair and replacement projects that appear on the Reserve Component List.  Therefore, it is [...]

By |2019-12-11T19:25:31+00:00March 22nd, 2017|Reserve Study|Comments Off on Which Components Belong in the Reserve Study?