BUYERS GUIDE: ARE RESERVE STUDY PROFESSIONALS LICENSED?
Video transcription: So in Washington State there is no licensing requirement for reserve study professionals. Anybody can hang out at tile and say, I'm a reserved study professional hire me. It's important for you as a community or property manager that you hire somebody that's qualified to get a catered and comprehensive report that's accurate and complies with National Reserve Study Standards and just general industry standards. There are two designations out there, the RS designation with the Community Associations Institute and the PRA designation with the Association of Professional Reserve Analysts. Both are given to those professionals which meet certain criteria and had the experience required that ensures that you're going to obtain a reserves study that complies with National Reserve Study Standards and is comprehensive in nature.
If you hire somebody and they send in trainees I would ask about that, make sure that you're getting the highest quality report possible, you deserve it and your community deserves it. You don't deserve somebody that's just come in been doing it for a week and has come in trying to figure it all out on your community as a test sample. You want to make sure that somebody's been there before [similar community] and can provide you good advice for the long-term financial strategy of your community. You can go to our website https://www.rdanorthwest.com and see some more information about this if you have any questions. We look forward to hearing from you. Thank you.
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