There are many definitions and concepts that are not easy to remember if you are not in the industry and working on reserve studies everyday like us. Here is a handy infographic to print and share for some common terms which will come up in HOA & Board meetings.
The component list is developed by applying a four part test to each component in the community. This test was developed by the Community Associations Institute as part of their National Reserve Study Standards Manual.
Washington stated has passed numerous laws in recent years that require reserve studies to be completed on a regular time scale and which must include specific minimum contents.
A comprehensive reserve study requires numerous steps by the reserve analyst. Each of our studies is catered to the specific Client which requires a review of numerous documents and considerations.
A brief list of the reports and findings that can be found in a reserve study which are most beneficial to our clients.