Helping you understand community association business with industry leading insight.
Useful Lives and Cost Estimates – The Bottom Line
During the physical inspection portion of a reserve study, a reserve consultant determines the useful life of each reserve component and a cost estimate for its replacement. Here are some commonly asked questions about determining cost estimates and useful lives.
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Navigating Differences: Reserve Studies and Structural Integrity Reserve Studies
The core purpose of any reserve study is the same – to serve as a capital expenditure forecasting tool and reserve funding plan to offset such expenditures. However, there are some key differences between a typical reserve study and a Structural Integrity Reserve Study (SIRS).
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How Much Does a Reserve Study Cost?
This is often one of the first questions a board asks when they are presented with the topic of reserve studies. As boards begin to engage with reserve study providers, odds are that most receive, at a minimum, three bids to conduct a reserve study, all of which present a different cost for a variety of reasons.
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Enhancing Community Safety
This webinar covers the critical 2023 updates to the Reserve Study Standards and their impact on community associations, including how they directly enhance community safety.
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Landscaping and Irrigation – Are They Included In Reserve Studies?
When your association decides to commission a reserve study, you may be wondering what components will and will not be included in the capital plan, or, if certain elements can be included. Landscaping and irrigation are both important parts of any community, but are they included in a reserve study?
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Choosing a Structural Integrity Reserve Study (SIRS) Provider
By now, if you have buildings of 3 or more stories, your condominium association or co-op has hopefully begun the process of fulfilling Florida’s structural integrity reserve study (SIRS) requirements and, if applicable, milestone inspection requirements. Because these laws are new, it can be understandably stressful or conflicting to choose a firm to conduct your SIRS or milestone inspection. Every community has different needs, so what route is best for your association?
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A Closer Look at The Latest Changes to CAI’s Reserve Study Standards
In March of 2022, a task force of fourteen community association industry experts gathered to begin the process of revising Community Association Institute’s Reserve Study Standards. Originally published in 1998, the Standards provide a consistent framework for reserve studies. Since then, both the community association and reserve study industries have grown, and the Standards have been revised to reflect the current climate. Here’s what you need to know!
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Maintenance Matters: Case Studies in Deferred Maintenance and Best Practices
This webinar explores the critical connection between maintenance and long-term cost savings for community associations, including case studies in deferred maintenance and best practices.
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Inflation and Capital Planning: What You Need To Know
Inflation. We’ve all heard the word, and frankly, we’re all probably sick of hearing it. The reality is that many associations may feel the impact of this current inflationary period, regardless of when it lets up, for years to come. Part of what makes this particular period of inflation so impactful is that prior to March 2020, we experienced a fairly unprecedented level of inflationary stability ranging from 3-5% each year.
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Your Association is Unique and Your Reserve Contributions Should be Too
This webinar addresses the common question, “Why are our HOA fees higher than our neighbors?” By examining sample operating budgets and reserve studies, we uncover the many factors that influence community association costs and reserve contributions.
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Long-Lived Assets: The Bottom Line
When conducting a reserve study, one of the first steps your consultant will take is evaluating the inventory of your community’s components and classifying them into groups, with reserve studies focusing most prominently on reserve components. However, long-lived assets are equally as important to keep an eye on.
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Legislation Regarding Structural Integrity and Condo Safety
Since Surfside, condominiums throughout the nation have been evacuated as a result of safety concerns. Horizon West (Waukesha, WI), Port Royale (Miami Beach, FL), Renaissance Tower (Myrtle Beach, SC), and Camelback Village (Olney, MD) to name a few. Many states, and in some cases, counties, have taken action to address the issue of aging infrastructure.
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Dues, Special Assessments, and Reserves – What’s The Deal?
As you know, dues and special assessments come with the territory of residing in any type of community association. Understandably, it can be confusing for boards and residents to navigate exactly what both of these payments are used for, when they should be used, and how they affect the association as a whole.
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Inflation and Reserves: The Implications on Capital Planning
This webinar provides valuable insights into the implications of inflation on reserve studies and capital planning for community associations.
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Inflation and Reserves: The Implications on Capital Planning
As we all know by now, inflation has moved into our lives and isn’t estimated to move out for about a year or more. While some industries are already seeing some relief, this is not and will not be the case for many other industries for the foreseeable future, including those that community associations rely on for capital projects.
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Expert Collaboration for the Betterment of Your Community
When you commission a reserve study, you’re commissioning an overall health check of your community, much like an annual physical exam with your primary care provider. However, when there is an issue with a specific organ or body part, a specialist in that particular area will join your list of physicians to uncover the root of the issue and formulate a remedy.
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