How much does a Reserve Study cost?

Reserve Study cost depends upon the time necessary for physical inspection, data analysis and report generation with component complexity and quantity the predominate factors. Community age, condition and location are also considerations, and professional management is an advantage. Click here to receive a free Reserve Study quote.

How is a Reserve Study finalized?

A Reserve Study is finalized at the sole discretion of the board. Once the board adopts a draft study with no additional revisions, the board via management directs the Reserve Study preparer to publish a final.

Who needs a Reserve Study?

State statutes mandate that most common interest communities conduct periodic Reserve Studies. Best practices also suggest that entities with long term facilities responsibilities conduct reserve studies. So, by statute and good business practices, common interest communities, special districts, governing agencies, businesses, non-profits, utilities and others are prime Reserve Study candidates.

When should the Reserve Study be performed?

Reserve Studies should be performed in accordance with appropriate state statutes. Most Reserve Studies should commence at least six months prior to the new fiscal year and be substantially complete prior to the overall budget process especially if loans or special assessments are possibilities.

What is needed to perform a Reserve Study?

Reserve Study preparation requires governing documents, budgets, balance sheets, component inventories, site maps (plats), detailed responsibility maps (fences, roads, open land, etc), blueprints, access keys / codes, project location driving directions, vendor proposals, preferred vendor contacts (painters, roofers, pavers, landscapers, etc), engineering studies, prior studies, retainer fee and signed contract.

What is a Reserve Study?

A Reserve Study is a long term financial planning tool composed of two fundamental parts, component inventory and funding plan. The component inventory details replacement costs that accurately predict future expense obligations, and the funding plan describes a unique funding strategy that fully meets those long term obligations. Basically, a Reserve Study is a thirty year budget.

What is the Reserve Study's purpose?

Reserve Studies provide an equitable funding plan designed to defray the costs associated with future capital replacements.

How do I get a Reserve Study?

Simple, fill out our online request form or call us toll free at (877) 708-0600.