The ROYAL Reserves approach to Reserve Studies offers you a fully customized reporting process, driven by advanced technology as well as industry leading, value-added insights to be sure you fully understand your final report.
“At ROYAL, we understand that we are entrusted with the privilege of caring for you and your community. Our goal is to deliver our services to you with the same exceptional care, dignity, respect, and humble pursuit of excellence as one would if they were serving actual Royalty.”
~ Chad McBeam
Reserve Studies Built for All Common Interest Developments (CID’s)
Condominiums
High Rise Condos
Townhomes
Office Parks
Planned Unit Developents
Captal Reserve Planning for All Other Real Estate Management Needs
Golf Courses
Townhomes
Resorts & Venues
Private Schools
Municipalities
Whether you need a Reserve Study or a Capital Reserve Plan, our Certified Reserve Specialists* are eager to provide you ROYAL treatment.
Not only will you receive a top-rated final report, your entire reporting process will be custom designed just for you and your board of directors, to meet and accommodate your needs, and provide valuable insights to all of your stakeholders.
*Certified Reserve Specialists are recognized and certified by the Community Association Institute (CAI).
Your reporting begins with choosing between one of our Four Levels of Professional Reserve Studies or the Do-It-Yourself Reserve Study*.
*Please note that some states now require that certain Reserve Studies must be done by a professional Reserve Study provider. If you’re not sure, feel free to inquire and we will let you know what your local legislation requires.
Professional Reserve Study
Options:
Preliminary Developers Study
Do-It-Yourself &
Other Options:
DIY Software Only - One Report
DIY + hourly consulting
Standalone Reserve consulting
Expert witness services
A First Look
Whether you are confined to National Reserve Study Standards in your Reserve Study or you’re a facility manager looking for a robust capital planning tool for your property, let’s first be sure we cover the fundamentals behind these reports…
What’s in a Reserve Study?
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List of Reserve Components
Itemized list of every significant common interest component needing long-term maintenance, repairs or replacement.
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Calculation of Current Reserve Fund Strength
Ratio of current Reserve Fund balances measured against the present, cumulative value of component deterioration also known as Target Balance.
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Recommended Funding Plan
Future funding models built to strategically and fairly improve your community’s financial security relative to Reserve Funding needs.
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Condition Assessment of All Components
Photographic and narrative documentation of each Reserve Components current condition and recommended future care.
What components should we include?
Thankfully, there are National Reserve Study Standards to help answer this question and they involve a 4-Part Test!
Is the component common area responsibility?
Does the component have a known and limited Useful Life (UL)?
Does the component have a predictable and limited Remaining Life?
Is the cost of the component significant, relative to annual spending?
How is a funding plan determined?
National Reserve Study Standards also help here with some well-rooted funding principles.
While there are various funding objectives that can modeled, how to create a funding plan to meet those objectives should follow a few principles.
Funding should be adequate to fund all projects with cash vs. lending or other financing.
Contribution rates should be steady and not volatile.
Contributions should be fairly and evenly distributed.
Funding should be fiscally responsible.