At Reserve Specialists, Inc., the careful management of your finances is our top priority. We pride ourselves on giving you personalized and thorough service that meets your business or individual needs.
The objective of a reserve study is the accumulation of information necessary for the Association to produce a reserve plan. A reserve plan is the Association’s documented plan for maintaining and replacing the components of common property for which it is responsible over a defined future period. The reserve study analyzes the individual components of the Association’s common property to estimate and document major repair and replacement needs over the established study period (generally 20-30 years), and provide a funding plan for the identified major repairs and replacement needs.
The objective of this service is to help an Association to become certified or re-certified by the Federal Housing Administration (FHA) by submitting an application and the required documentation to the U.S. Department of Housing and Urban Development. Currently certification lasts for 2 years at which time re-certification is required.
Ideally a transition study helps a community transition from the Developer’s control to the Association’s board by addressing potential defects or deficiencies in design, construction or materials. An independent transition study is a document that can aid in an Association's negotiations with the developer to rectify any outstanding construction issues, your legal counsel in litigations and to fulfill the board’s fiduciary responsibility to its owners.
Insurance Analysis is an analysis of the community’s property insurance to determine the proper cost coverage of community assets and justified annual premium and policy deductibles.
Budget & Cost Analysis is an analysis of the community’s annual budget, expenditures, fees, delinquencies rate and collections. In addition, Reserve Specialists, Inc. will create and/or alter existing budgets and make recommendations to streamline costs and expenditures.