We will work with you to provide a study that best meets your needs, from a full reserve study to an update of a previous study, as described below.
 
Level 1 Full Reserve Study, With Site-Visit/On-Site Review
 
In a Full Reserve study, we conduct a component inventory to identify and quantify the common area components, perform a condition assessment based upon an on-site visual inspection, and provide life and valuation estimates. We use a very robust software package to customize a report to meet your funding goals and adhere to the Government requirements.

A full reserve study includes the following five reserve study tasks:
 
component inventory
condition assessment (based upon on-site visual observation)
life and valuation estimates
fund status
funding plan
 
 
Level 2 Reserve Study Update, With-Site-Visit/On-Site Review
 
A reserve study update in which the following five reserve study tasks are performed:
 
component inventory ( verification only, not quantification)
condition assessment (based upon on-site visual observation)
life and valuation estimates
fund status
funding plan

Suggested as a 3 year Update – We will update a previous reserve study by making an on-site visual inspection to verify that the component inventory is up-to-date (verification only, not quantification), perform a condition assessment, and update the life and valuation estimates.

 
Level 3 Reserve Study Update, No-Site-Visit/Off-Site Review
 
A reserve study update in which the following three reserve study tasks are performed:

life and valuation estimates
fund status
funding plan

Suggested as a Yearly Update – We will provide an updated report to reflect any economic changes, additions of phases or assets or expenditures of reserve funds. This benefits the condo owners by providing yearly assessment increases or decreases, usually in smaller magnitudes. It may also be used as a consumers guide to prospective purchasers.

Minimum Contents

The following is a list of the minimum contents to be included in a reserve study:

	A summary of the association's number of units, physical description, and reserve fund financial condition.
	A tabular listing of the component inventory, component quantity or identifying descriptions, useful life, remaining life, and current cost.
	A description of methods and objectives utilized in computing the fund status and development of the funding plan.
	Source(s) utilized to obtain component current cost estimates.
	A description of the Level of Service by which the reserve study was prepared. Fiscal year for which the reserve study is prepared.

	General: Description of other involvement(s) with the association, which could result in actual or perceived conflicts of interest.
	Physical Analysis: Description of how thorough the on-site observations were performed (e.g. representative sampling vs. all common areas, destructive testing or not, field measurements vs. drawing take-offs, etc.)
	Financial Analysis: Description of assumptions utilized for interest and inflation, taxes, and other outside factors.
	Update Reports: Disclosure of how the current work is reliant on the validity of prior reserve studies.