eBooks, Articles, & More

Why Don’t our Reserve Study Cost Estimates Match our Experience?

So you've received your Reserve Study. You notice that the asphalt seal coat project, which the association just paid $30,000 to have done, shows a $20,000 estimated (current) cost in your Reserve Study.

Is it a Maintenance Expense or a Reserve Expense?

A reader recently asked a good question, asking for clarification about where the money should come from for a particular expense. The answer illustrates an important concept.

What is a “Diligent, Visual Site Inspection”?

In some areas of the country, specifically California where it is required by State Law, at least every few years a Reserve Study needs to be prepared on the basis of a “diligent visual site inspection”. But what does that mean?

When is a Special Assessment not a Special Assessment?

Some Governing Documents (or jurisdictions) require that a Reserve Funding Plan not be based on a special assessment. But some communities wiggle around that requirement by just "temporarily increasing the monthly assessments", not levying a one-time special assessment. What is the difference?

Why are there often Multiple Components for Paint Projects?

After last week's webinar on selecting Reserve components (click here for the recording), one attendee asked why they often see many "painting" components... one for stucco, one for wood trim, one for the ironwork around the pool, one for balcony railings, etc.

Is there a “Standard” % of Budget that should go towards Reserves?

I wish the answer was as simple as the question. Since associations come in all different types and sizes, and in that variety there are significant differences in the common areas maintained by the association and the Operational Budget expenses, the answer is "no".