Our intention with the customized format of our reports is to make it easy to read and comprehend. Hopefully, you will not look at this report and think it is too cumbersome to understand.
First, take the time to review the report carefully. Make sure the component information is complete and accurate. If there are any inaccuracies, please inform us immediately so we may revise the report.
Once you feel the report is an accurate tool to work from, use it to help establish your budget for the upcoming fiscal year. The reserve allocation makes up a large portion of the total monthly dues. This report should help determine the correct amount of money to go into the reserve fund. Additionally, the Reserve Study should act as a guide to obtain proposals in advance of pending projects. This will give you an opportunity to shop around for the best price available.
Who Needs a Reserve Study?
The Reserve Study should be readily available for real estate agents, brokerage firms, and lending institutions for potential future homeowners. As the importance of reserves becomes more of a household term, people are requesting homeowners associations to reveal the strength of the Reserve fund prior to purchasing a condominium, townhouse or single family home.
Please contact us to see how we can help setup your association's reserve study at 303.790.7572