An HOA Reserve Study is a comprehensive evaluation of a homeowners association’s major components and financial health. It assesses the current condition of communal property, estimates the remaining lifespan of major systems and components, and forecasts the costs associated with repairing or replacing them. This study ensures that sufficient funds are reserved for future capital expenses, reducing financial surprises.

Reserve Studies are crucial for maintaining the financial health of an HOA. They help prevent the risk of special assessments by ensuring that funds are available for major repairs or replacements. A well-conducted reserve study also supports transparent budgeting and builds homeowner trust by demonstrating prudent financial planning.

It is recommended that HOAs conduct a full reserve study every three to five years or whenever significant changes to the property or its management occur. However, yearly updates are advised to reflect the most accurate financial and physical status of the association.

Yes, by accurately forecasting future expenses and creating a funding plan, a reserve study helps your HOA avoid financial shortfalls. This proactive approach allows for steady funding and reduces the likelihood of needing to impose large special assessments unexpectedly.

Our service includes a detailed site inspection, financial analysis, and a comprehensive report that provides a 30-year projection of your community’s capital needs. We also offer tailored recommendations for funding your reserves and strategies for maintaining and extending the life of your property’s components.

We customize each study based on your unique property features, financial circumstances, and community expectations. Our team considers all relevant factors, including your current reserve fund status, recent expenditures, and planned future projects, to ensure the study is as applicable and beneficial as possible.