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Fri: 9am-4pm
+386-677-8886
Toll Free: 866-480-8236
210 Charles Street
Port Orange, Fl 32129

Reserve Study

"Reserve studies in Florida are insurance for the uninsurables"

Reserve Study for HOA's & Condominium Associations

In Florida 386-677-8886

Your Association's financial health has many factors. One of which you have the utmost power to control. Reserve Studies have been proven to be a great asset to any Association's well being.

We offer complete, comprehensive and detailed reserve studies for our clients outlining major components, their useful life, remaining useful life, cash flow analysis, reserve fund strength, and recommendation for an appropriate reserve contribution rate (funding plan) as to avoid special assessments.

Although the State of Florida does not require a Reserve Study, it is considered good business practice and professional transparancy to include a study in your yearly budget. Special assessments and lack of funding for high end items can be detrimental to your Association's value.

Real Reserve Studies Conducted by Expert Inspectors and Why They're so Important.

In Florida 386-677-8886

Reserve Case Study 1

Condominium Association

24 Story, 42 unit Hi-Rise with pool, spa and Ocean View.

Study Type:

Level One Study
*No Previous Study Ever Performed.

Intended Outcome

The association had 2 large special assessments in 4 years. These assessments were over half of the purchase price of their units and affected the market sale price. Expert Inspectors Reserve Study Team did a complete site visit, determined the monthly allocation and gave a 30 year cash flow analysis including disbursements on a yearly level.

The Process

Expert Inspectors Reserve Study Team met with the Property Manager and Board Members to create a component list, set the desired funded percentage, and disclose recent (the last 5years) replacements of major features. The information was then researched and various specialists were contacted to insure a current cost was calculated. This information was used to formulate a plan to bring their reserve "health" score from 7% to 75% within 5 years. Taking their previous situation into account, the owners and board members were very pleased with this plan and outcome of the reserve study.

Reserve Case Study 2

Homeowners Association

Location: Daytona Beach, Florida

Study Type:

Level One Study
114 Homes with No Componets and High Reserve Fund

Intended Outcome

To adjust HOA fees in order to eliminate "dead balance" in reserve fund that was not needed. This particular association had no major components to plan for yet had high HOA fees. 

The Process

Expert Inspectors Reserve Study Team did a complete site inspection. We contacted the proper specialists, met with the board and produced a report to guide the members in adjusting the fees where unnecessary money was being placed. 

At Expert Inspectors we offer 3 types of Reserve Studies depending on your needs:

Level I: (Full study with site visit) - Level I: From the ground up. This level encompasses a new study, generation of component inventory, cash flow and reserve contributions among the units, a funding plan according to the association's documentation and site visit complete with color photos of your specified components. Level I will also determine reserve allocation, reserve strength, and give projected reserve income and expense over a specified time frame. We will work closely with your board  to complete a useful and informational report beneficial to all parties.

Level II: (Update with site visit) - Level I: (Full study with site visit) - From the ground up. This level encompasses a new study, generation of component inventory, cash flow and reserve contributions among the units, a funding plan according to the association's documentation and site visit complete with color photos of your specified components. Level I will also determine reserve allocation, reserve strength, and give projected reserve income and expense over a specified time frame. We will work closely with your board  to complete a useful and informational report beneficial to all parties.

Level III: (Update no site visit) - Level I: (Full study with site visit) - From the ground up. This level encompasses a new study, generation of component inventory, cash flow and reserve contributions among the units, a funding plan according to the association's documentation and site visit complete with color photos of your specified components. Level I will also determine reserve allocation, reserve strength, and give projected reserve income and expense over a specified time frame. We will work closely with your board  to complete a useful and informational report beneficial to all parties.


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Reserve Study Experts in Florida

Expert Inspectors conducts reserve studies for H.O.A. Associations and Condominium Associations. Reserve Studies are not insurance, but long term capitol budget control for the future use of deterioration, natural disaster replacement cost and special assessments. A Reserve study allows us to asses where you are in your reserve budget so you may anticipate needed adjustments.

We conduct reserve studies throughout Florida including

Jacksonville, Florida and surrounding Area - St. Augustine, Florida - Orlando, Florida - Tampa, Florida - The Space Coast and Cape Canaveral, Florida - Daytona, Florida

 

 

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