This level of reserve study is quite comprehensive and is typically prepared for associations which have never had a reserve study or have concerns regarding the accuracy of the previous reserve study. A thorough on-site inspection is completed, and a component inventory is made. The condition of the components is determined and digital photos are taken of each component to be included in the final reserve study report. A determination of the useful and remaining asset life is completed, and the current and future cost to replace the component is done. After the physical analysis of the property is completed, we perform a financial analysis of your current reserve fund status and formulate a detailed plan for adequately funding the reserve account for future asset replacement. The final report is a comprehensive, straight-forward document which provides a “blueprint” for budgeting future asset replacement.
This study is an update of a previous reserve study and includes a physical inspection of the property. The association is satisfied with the component listing and other facts in the previous study, but need an updated study usually due to a lack of an on-site inspection for several years. The asset components are verified with the previous study, digital photos are taken, and the condition of the components is noted. We update the remaining life of all components and update the replacement value. We perform a financial analysis of your current reserve fund status and update the funding plan for future asset replacement.
This study is an update of a previous reserve study with no on-site inspection of the property. We review the previous reserve study with association representatives and verify their comfort level with the information presented in the previous reserve study. We update the component inventory and adjust the remaining life estimates for the new study. We perform a financial analysis of your current reserve fund status and update the funding plan for future asset replacement.
After determining the level of reserve study your association needs, please go to the Proposal Request section of our website, fill in the requested information and submit to Western Reserve Studies for a quote.