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Recipe for a Successful Reserve Study

Directions


1. Hire a Reserve Study Professional 


2. Discuss the long term goals & concerns of the community


3. Have open access to all areas of the property during the site inspection


4. Be available during the site inspection


5. Provide the relevant documents requested by the reserve analyst


6. Review the component list in the first draft


7. Request necessary revisions and rationale behind them


8. Share with the Board and Discuss implementation into the budget


The most important factor to make sure your reserve study meets your expectations is to keep an open dialogue going with the reserve analyst. This could mean discussing concerns the community has regarding specific common areas or discussing the long term financial goals of the community. This will help to ensure the reserve study is catered to the needs of your community from day one and all parties have an understanding the final product.