HOMEOWNERS ASSOCIATION RESERVE STUDY SERVICES
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Facilities Advisors Inc. is your preferred provider for Reserve Study Services.
RESERVE STUDIES
The Reserve Professionals at Facilities Advisors, inc. have more than 20 years experience preparing reserve studies for condominium associations, homeowners associations, timeshare associations, country clubs, and many other types of organizations. Gary Porter, Company President, is a Professional Reserve Analyst (PRA) and is also designated as a Reserve Specialist by the State of Nevada.
Your association is charged with the responsibility to maintain certain facilities. Many of these are infrastructure facilities that don't have any counterpart in the private sector. In addition, you operate and maintain buildings, rolling stock, recreation, and other equipment.
Associations have the rather difficult task of being required to charge user assessments that do not exceed costs (no profits), yet include complete cost recovery (no losses). While most associations do an excellent job of analyzing current costs, most do a less accurate assessment of their long-term system replacement costs. That's where we come in. We have performed hundreds of Reserve Studies since performing our first one in 1982. The goal is to produce an accurate financial projection that considers all factors affecting the ultimate long-term repair or replacement of fixed assets; those items generally not subject to the annual operating budget. They are the subject of a reserve study.
Three important reasons for why Facilities Advisors inc. should be your first choice for Reserve Studies:
1. Competitive Fees
Our reserve study fees are competitive at every level. We are prepared to provide any level of service you request, including a full site inspection with digital photographs.
2. Useful and understandable report.
We provide a one or two-page executive summary of each major part of the reserve study report, followed by the details. The summary allows you to grasp the major contents of the report at a single glance, with the details as back-up information.
a. We provide a summary that allows you to meet the reserve study disclosure requirements of the State Civil Code for member disclosures. (See attached example)
b. Our Site Observations Comments section of the report will discuss observations and noted deficiencies in your maintenance programs or areas that require further attention.
Please see Additional Services and Information, attached.
c. We include the necessary reserve study disclosures required by the American Institute of CPAs for you to provide to your auditor.
3. Experience and knowledge
We have more than 20 years experience in preparing reserve studies; since 1982.
A Reserve Study is a financial projection that calculates the funding requirements to replace not only your infrastructure assets, but also all assets owned and operated by the association. Your financial projection and reserve study report is prepared by a CPA, resulting in a reserve study report that is understandable, useful, and that makes sense. Our reserve study will cover a 30-year period and will incorporate inflation, estimated interest earnings and income taxes, financing programs and repayment of debt. We can project level funding requirements, funding plans linked to estimated inflation rates, or customized plans. The net result is a reserve study funding plan that can be incorporated into your dues structure, giving you an accurate picture of your cost recovery needs.
Facilities Advisors, Inc. should be your choice for your next reserve study, because we not only provide the three important things that a reserve study should provide, but we also meet the three criteria that are important to you. We have more than 20 years of reserve study experience, making us one of the longest term players in the industry, and we work interactively with our clients to make sure that the reserve study report is right. If you’re not satisfied, we’re not satisfied.
We have provided reserve study services nationwide for many years. While we have performed reserve studies nationwide, our highest concentration of reserve study services has been in these western states;
Oregon reserve studies
New Mexico reserve studies
Call us at 877-304-6700 for your next reserve study.
