services


Reserve Pro 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:
 
Full Reserve Fund Study (with Site Visit / On-Site Review)

 
In a full reserve fund 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 comprehensive software package to customize a report to meet your funding goals and adhere to government requirements.


A full reserve fund study includes the following reserve fund study tasks:

  • component inventory (based on the condominium's bylaws)
  • condition assessment (based upon an on-site visual inspection)
  • life and valuation estimates
  • fund status
  • funding plan

 

Reserve Fund Study Update (with Site Visit / On-Site Review)
 
It is suggested that an on-site reserve fund study be revisited every 3 to 5 years to ensure it is up-to-date and continues to meet your needs.


A reserve fund study update includes the following reserve study tasks:

  • component inventory (verification only, not quantification)
  • condition assessment (based upon an on-site visual inspection)
  • life and valuation estimates
  • fund status
  • funding plan

 

Minimum Contents


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

  • A summary of the association/corporation's number of units, physical description, and reserve fund financial condition.
  • A 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 and fiscal year by which the reserve fund study was prepared.

 

Minimum Disclosures

The following are the minimum disclosures to be included in the reserve fund study:

  • General - Description of other involvement(s) with the association/corporation, which could result in actual or perceived conflicts of interest.
  • Physical Analysis - Description of how thorough the on-site inspections 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 fund studies.

 



what does a reserve fund study cost?


There are six basic factors that determine the cost of a reserve fund study:

     1.  Size of the condominium complex (# of units)

     2.  Type of condominium units (e.g. apartment, bare land, townhouse, walk-up, etc.)

     3.  Number and type of common area assets
     4.  Age of the condominium complex
     5.  Location
     6.  Time of year (in-season or off-season)


With large assets of differing types (e.g. elevators, pools, etc.), and with more history to review and reconstruct, the complexity of the study increases. In addition, travel time and expenses for on-site inspections outside of Regina, SK may also affect the cost.

The Full Reserve Fund Study is our most expensive service, but usually only needs to be done once every ten years for each association/corporation.  The Reserve Fund Study Update is performed for proportionally lower fees due to the reduced amount of time required for this service.


Please contact Dave Kindred at (306) 537-7199 for more details. If you would like a quote for a Reserve Fund Study, please complete the two-page Preliminary Information Sheet and fax it to Dave at Fax: (306) 775-0903.






Condominium Reserve Fund Studies

SERVING REGINA AND AREA SINCE 2005!