This story fortunately comes from outside the borders of the USA. In January, three of our Project Managers were in France doing the site inspection for a large, multi-phase association. During our standard kick-off meeting with the Manager and Controller to get up to speed
My assignment was a site inspection for a large, older condominium association, built in the late 60s, perched on the top of a hill overlooking the Los Angeles International Airport (LAX). The brand new community manager was accompanying me on my walk-through,
We recently dealt with a creative (and sharp!) Board Treasurer who was unhappy with our With-Site-Visit (WSV) Reserve Study update for their Association. The Association is made up of single family dwellings, where every homeowner maintains their own residence.
Everybody wants a great Reserve Study. But what does that mean? Let me suggest a list:
• All the “right” components on your Reserve Component List (none missing that should be on the list, and none on
The 1998 National Reserve Study Standards have been in place for over 14 years. These standards give all of us in the Reserve Study industry clear definitions of terms that we use (and calculations that we make) on a regular basis.
National Reserve Study Standards started in a way you might not have expected… over lunch! Back in 1990, one of my competitors and I began meeting monthly for lunch. We felt the need to discuss our processes and terminology, planting the seeds of an agreed-upon “correct way” to say and do things in our industry.
