Reserve Study
A Reserve Study is a financial plan for commonly owned Multi-Family properties and commercial institutions. A Reserve Study identifies all common and limited common property owned by a community that will require replacement or refurbishment over the life of the property. Reserve Study reports; detail all common property, identify typical life spans of each component, estimate the cost to repair or replace each common part, evaluate the current fund status of the property’s reserve fund, and recommend annual contributions to meet property needs.
Reasons to Conduct a Reserve Study
- Protect the value of your property.
- Balance the contributions made by members.
- Maintain and enhance your common areas.
- Be financially prepared for scheduled expenses.
- Depending on which State, County, etc… your property is located, Reserve Studies may be required by the law. *
We Prepare Reserve Studies For:
Reserve Studies Include:
- Executive Summary
- List projects by short-term and long-term schedules.
- Include critical findings and recommendations depicted in easy-to-understand reports, charts, and graphs.
- A detailed financial program identifying resources needed to fund future replacements.
- Alternative funding for individual projects to better manage your property’s budget.
- Recommendations to help you prioritize repair and replacement projects.
- Maintenance practice recommendations to help you extend element life.
- Property assessment, condition, replacement, and cost estimates.
- Strategies when comparing contractor bids to help you negotiate better pricing.
