Reserves take care of the infrastructure and capital aspects of an association. These are repair and replacement needs that happen infrequently and carry large price tags. Associations should be including a contribution to reserves in their annual budget. But how do you know how to calculate that contribution? A Reserve Study can help.

Reserve studies are important to the health and stability of an association, because:

  1. Without a reserve study, an association cannot determine how much money it should have in reserves.
  2. During reserve studies, professionals evaluate the life of all capital investments, allowing associations to understand how much money is needed each year to replace each component.

Reserve studies should be conducted and updated regularly so that your association can plan for large repair needs over time. 

Read more, here.

 

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