Importance of Reserve Studies
​ Accurate & Clear Information Allows Appropriate Planning
The unfortunate truth of property maintenance is that regardless of whether you have a Reserve Study or not, the same projects will come due and the same costs will still be incurred. Wouldn't you rather know what's coming to adequately prepare, rather than having a surprise special assessment in the future? Our goal is to eliminate those surprises!
​ Proactive Planning Enhances Property Value & Saves Money
1) Proactive maintenance, repairs, and replacements often save the "urgency" upcharge vendors can add on when emergency failures occur. In addition, any loan taken out by a property cost extra because the community is then paying an interest amount in addition to the project cost.
2) A well-maintained property typically maintains a higher level of property value than properties that reactively conduct repairs only because they have to. Visual appeal is greater, and prospective buyers will take that into account!
Reserve Studies Promote Transparency and Accountability
The process of a Reserve Study includes collaboration amongst the Reserve professional and the property's stakeholders (Boards, Committees, Managers, Staff, Etc.). A funding plan adopted by all and well-communicated to residents will only build trust within the community.
The Risks of Looking The Other Way
Project costs will still occur, whether you have an appropriate Reserve plan or not. Failing to create and update a sustainable Reserve plan comes with multiple risks:
Excessive Maintenance Costs
Emergency Repairs and Replacements
Financial Surprises & Strain
Decreased Property Values
The Different Types of Reserve Study Engagements:
Level 1: Full Reserve Study
Level 2: Update With Site Visit
On-site Inspection
Thorough evaluation of all common assets and amenities
Refresh Your Study
Perfect for associations looking to update their existing reserve study with current data.
Condition Assessment
Expert analysis of asset conditions and lifespan estimation
On-site Evaluation
We conduct new site inspections to assess current asset conditions accurately.
Cost Estimation
Accurate forecasting of replacement costs
Market-Based Updates
Accurate forecasting of replacement costs
Financial Analysis
Detailed 30-Year report guiding long-term financial planning
Financial Analysis
Detailed 30-Year report guiding long-term financial planning
Level 3: Update No Site Visit
Document Review
We analyze existing data and client documentation for updates.
Level 4: New Development, Community Not Yet Built
Plan Analysis
Perfect for associations looking to update their existing reserve study with current data.
Cost Estimation
Updated replacement costs based on current market trends.
Component Assessment
We conduct new site inspections to assess current asset conditions accurately.
Financial Analysis
Detailed 30-Year report guiding long-term financial planning
Review & Collaboration
Receive an updated report for informed financial decisions.
Cost Forecasting
We estimate repair and replacement costs based on construction material.
Funding Plan
A comprehensive 30-Year report details cost estimates and long-term funding strategies.
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Reserve Studies & Capital Planning - The Process
Site Inspection (Physical Analysis)
Create or Update Component Inventory
Project Life and Cost Estimates
Project Prioritization
Follow Up Research With Client and/or Vendors
Review of Current Budget & Funding
Create Funding Recommendations
Cash Flow Optimization
Create Report and Provide For Client Review
Further Client and PRP Collaboration During Revision Period
Reserve Study Outcomes
A well-prepared Reserve Study (or Capital Plan) provides multiple pieces of useful information:
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1) The Component List
This is a comprehensive inventory of common major assets and their predictable projects. Our reports provide clear descriptions of useful information such as location, visual condition, specific details (such as the make, model, and manufacture year of your HVAC system), maintenance recommendations, and cost estimate ranges.
2) Assessment of Your Property's Current Funding Position/Strength
Using your property's current financial information, such as current year funding into Reserves and the estimated Reserve balance at the end of the year, we can determine the strength of your current approach and existing funds.
3) Strategic Funding Plan For Long-Term Sustainability
​After finding out what your property has (#1) and where it financially stands (#2), we can now put together a strategic funding plan tailored to your property's specific needs! This should eliminate surprises and allow your property to consider and adopt a funding strategy catered to long-term sustainability.
Why Choose Prime Reserve Planning?
Specialized Expertise
Intensive experience with every property type, from a simple HOA to complex high-rise timeshare resorts!
Financial Planning
Through detailed and focused information, we help clients prevent crises and maintain strong property values!
Tailored Solutions
Our knowledge and experience allows us to alter our services to your property's specific needs!
Clear Deliverables
Receive detailed, yet easy-to-follow PDF reports and Excel files designed to promote well-informed decisions!
