Reserve Study

Here's another little secret about lots of reserve studies. Many folks performing them don't necessarily understand buildings, have no experience in construction, and don't know how the components of the building interrelate and work in real life.

Like Home Inspection Reports, there are a multitude of Reserve Study Software packages. The individual performing the reserve study punches in the basic components of a property, and a generic *report* pops out. The problem is, very often buildings age and wear in different ways depending on a very wide set of variables. With generic software reports, building owners might find themselves preparing for, say, steel window lintel replacement, even though the lintels on their particular building might be just fine.

A better way to approach the task is to perform a Property Condition Report. Once the actual condition of the property is known, a reserve study can be accurately assembled to reflect the specific needs of a particular building.

I have worked with dozens of condominium associations in educating them to the condition of their properties, based on actual and real time involvement in working on these buildings.

Reserve studies are a necessary and valuable tool for competently managing multiple family properties. When tied to a Property Condition Report, they provide the necessary information so that Home Owner's Associations can make informed decisions regarding major capital expenditures.