The ROYAL appoach to Reserve Studies offers you a fully customized reporting process and industry leading, value-added insights to be sure you fully understand your final report.
Reserve Studies
Townhomes
Planned Neighborhoods
Office Parks
Condos
High Rise Condos
Vs.
Capital Plans
Places of Worship
Municipalities
Schools
Golf & Country Clubs
Resorts & Retreat Centers
Whether you need a Reserve Study or a Capital 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 the Do-It-Yourself report building process or one of our Three Levels of Professional Reserve Studies.
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.
Professionally Prepared Reserve Study Options:
Full Reserve Study
Update With Site Visit
Update Without Site Visit
DIY & Other Reserve Study Options:
DIY Software Only - 1 Yr Subscription
DIY plus a la carte hourly consulting
Standalone Reserve consulting including 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 is 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.