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Professional Reserve Study Services

Reserve Data Analyst aims to be a leader in the industry with a high level of customer service and comprehensive reports which are an invaluable resource for our Clients. When used to their fullest reserve studies more than pay for themselves in cost savings, reduced liability and the reduced stress that comes with budgeting for building and site project expenses. 

The long-term budgeting for common areas and facility repair projects is extremely important but also stressful and at times an overwhelming responsibility to a Board or Facility Manager trying to keep everything in order. Utilize our services to reduce the stress, increase cost savings and help place your community / organization on a fiscal responsible path. 

We take our work personally which ensures that we do an excellent job on each assignment that comes our way. From the time we receive a new order, to the date of the site inspection and finally delivery of the completed report; we look at each step as an important opportunity for us to provide a level of customer service unparalleled in the industry. 

Levels of Reserve Studies

In the reserve study industry there are three levels of service. Typically a new Client will start with a Level 1 (Full Reserve Study) and move to a couple of Level 3 Studies (Updates) before returning to a Level 2 Study (Update with Site Visit). These ongoing updates to the reserve study ensure adjustments are made to elements of the study; cost figures, remaining useful life of components and project completion dates are some of the items updates revise. Over time the reserve study will become more accurate and in line with the Client long term budgeting and funding goals. 

Level 1

Our Full Level I Studies are excellent for communities and organizations that have never had a reserve study completed, have had significant changes from past studies or would like a fresh look at things from a different reserve study company.

This is a comprehensive reserve study that from beginning to end offers the fullest in customer care, the most detailed component analysis, financial analysis and catered study possible. We will include numerous funding models that meet statutory requirements, our recommendations and specific goals of the Client such as a funding model to reach a level appropriate for FHA approval. 

Level 2

Level II Studies are considered updates to prior studies and are for Clients who have a prior study they would like us to utilize for the component list and measurements / quantities but would still like a site inspection to determine remaining useful life of components (are things deteriorating in line with expectations).

This level of service provides savings to the Client as we are not taking measurements and inventory of the components (taken from a prior study provided to us) but do perform a site inspection to determine current remaining life expectancies of components.

Level 3

Level III Studies are for communities which have had a past Level I or Level II study and are only seeking a financial update and projects completed update with no site inspection.

This is considered a Financial Update and there is no site inspection completed. All component inventory and remaining useful life numbers are taken from the prior study provided to us and assumed to be accurate. This update study is for communities seeking to comply with state regulatory & disclosure requirements as well as to remain on top of budgeting concerns related to the reserve account. Our most successful Clients (most financially secure) complete Level 3 studies!

Statutory Requirements For Common Interest Communites

In In recent years there have been many States across the country which have enacted legislation regarding reserve studies, reserve accounts and reserve funding requirements.

Several states including Washington and California have passed laws regarding how often common interest communities must obtain a reserve study while Hawaii has passed specific regulations pertaining to the required levels of funding in a common interest community. These laws are specific as to how often a reserve study must be completed, what levels of service must be done, reserve study contents as well as what must be disclosed to the community membership. The below link provides an overview of the statutory requirements for the coverage areas of Reserve Data Analyst.