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AUDIO LIBRARY: ANSWERS TO COMMON QUESTIONS


WHAT DOES THE TYPICAL RESERVE STUDY COSTS AN HOA COMMUNITY?

This common question is answered in this soundbite. The costs really are dependent on the time needed to complete the assignment. Various factors go into creating a bid. 

WHAT DOCUMENT DOES THE PROPERTY MANAGER OR BOARD MEMBER NEED TO PROVIDE TO THE RESERVE ANALYST?

The more information we are provided the more accurate and catered the reserve study will be for your community. The good news is that you do not need to rush out and find it all at once. 

HOW FAST CAN WE COMPLETE A RESERVE STUDY? 

In developing a comprehensive reserve study the time needed really is based on the complexity of the assignment. We go into this a bit in this audio clip answer. 

ARE RESERVE STUDY ANALYSTS LICENSED? 

There is no licensing requirement in Washington State but there are a couple of designations in the industry that you should be looking for when hiring a reserve professional. More in this sound clip. 

HOW DO WE DEVELOP FUNDING PLANS FOR A COMMUNITY

Each of our reserve studies are catered to the needs and expectations of that specific Client. Our studies will include numerous funding scenarios with some being more conservative than others so the Client can choose what is most in line with their risk tolerance. 

IS THE RESERVE STUDY SHARED WITH ANYONE ELSE? 

We do not share any information with other parties as everything in our study and information which has been provided to use is completely confidential. The Client may share it with whom they with but on our end nothing is ever provided to other parties unless the Client specific requests it. 

DO OUR RESERVE STUDIES MEET WASHINGTON STATE LEGAL REQUIREMENTS

In recent years Washington State has passed numerous laws with respects to reserve study and the contents that are required to be in all reserve studies for common interest communities.