Client challenge
The Home Owners Association of this 35 year old community had no historical records for the Board to determine the extent of the common areas on the community.
Reserve Data Analyst solution
We conducted the necessary due diligence for clarification of the common areas in the community and obtained appropriate costs and bids from vendors.
Client impact
The Association was pleased with finally having an answer to the ongoing unclear nature of who maintained what.
Reserve Data Analyst Value Score: 5.0 - Going the extra mile for our Client!
Client challenge
The Developer was seeking to set the HOA dues and adequately fund the reserve account before selling off the final units in a condominium community and turning control of the HOA over to the owners
Reserve Data Analyst solution
After a comprehensive site inspection and market review of HOA dues in the region we were able to provide the needed answers to this developer.
Client impact
After significant research and completing a comprehensive reserve study the Developer saved a significant amount of money.
Reserve Data Analyst Value Score: 9.0 - Considerable savings to the Client!
Client challenge
The country club had a large Board which had differing opinions of if a remodel was necessary for the clubhouse which was outdated but functional.
Reserve Data Analyst solution
Conducted a Client interview to specifically determine the scope of work due to differing opinion on the Board then proceeded to conduct all necessary site inspection as well as research all costs related to these country club assets.
Client impact
The estimate costs of the pool, tennis courts and remodel of the clubhouse were much greater than was anticipated by anyone on the Board so they had to re-evaluate what direction they would be heading in. They were satisfied with comprehensive nature of the reserve study.
Reserve Data Analyst Value Score: 8.0 - Significant costs not taken into account by Board members were incorporated into the comprehensive reserve study!
Client challenge
The golf course had a reserve account balance which appeared to the Board to be sufficient and they sought to refrain from increasing due to the membership but lacked the expertise to calculate projections of expected expenses.
Reserve Data Analyst solution
Due to the age of the Golf Course our experience indicated there were costs that were not being taken into account by the Board.
Client impact
The recommendations and costs in the reserve study were much higher than what the Board anticipated due to pond liners in the 10 ponds on the golf course which had begun to fail.
Reserve Data Analyst Value Score: 8.0 - Realistic cost estimates and unplanned projects included in the study resulted in a more appropriate dues increase vote which would have otherwise not likely passed the Board's vote and would have had a significant impact on the future reserve account levels.
Client challenge
The Association received a bid for exterior paint which appeared much greater than what was anticipated. Additionally the Association feared that they were overlooking some upcoming expenses in the community.
Reserve Data Analyst solution
Completed all necessary research and interviews necessary to develop a comprehensive component list along with their respective costs.
Client impact
The bid provided by their one potential vendor was much greater than what the regional average was.
Reserve Data Analyst Value Score: 9.0 - Providing realistic cost estimates and encouraging them to obtain additional bids helped save them over $50,000. Additionally they had only been saving for a refurbishment of the elevator cab and not the modernization of equipment which appeared to have been deteriorating. Overall we were able to help clarify the Association’s upcoming expenses and help to save money on a near term project.
***Value Score - Score from 1 to 10 based on the estimated additional value the Client received - above and beyond the base comprehensive reserve study from Reserve Data Analyst.