What is a Capital Reserve Study
A Capital Reserve Study provides an in depth review of an Association’s common elements and provides an objective review of the elements useful life and the remaining useful life of the element. The cost of maintaining and/or replacing that element is then determined and spread over a period of years, generally 30yrs. Once all common elements are analyzed, several funding recommendations are established to help the HOA determine at what level their budgets must be funded and therefore what must the monthly or yearly dues be to maintain financial health.
#1 Reason To Perform Study
AVOID SPECIAL ASSESSMENTS!!!Lets face it we all have budgets to keep and usually there is so much more to spend at the end of the month. So when your homeowners association hits you and your neighbors with a special assessment it hurts. It especially hurts when you find out your association could have avoided this through proper planning. Part of this planning is the completion of a Capital Reserve Study to help your association get a handle on current and future financial needs.
Are you ready for your homeowners association to get a better handle on current and future expenditures? Then it is time to take the first step and contact Mountains To Sea Inspections and schedule an appointment to review where your homeowners association current financial situation is and where it should be.