No-Site-Visit Update Studies
Current Cost and Project Updates for LIVE Financial Insights
At ROYAL Reserves, our No-Site-Visit Update Studies leverage modern technology to help you keep your Reserve Component project completions and current cost records up to date year round, providing you LIVE insight on your Reserve Fund Program all year, every year, even between Inspection-Based Update years! Like each of our Professional Studies, No-Site-Visit Updates are also reviewed and completed by our Certified Reserve Specialists.
What is a No-Site-Visit Update Study?
The No-Site-Visit Update to a Reserve Study is used between With-Site-Visit Updates to help Property Managers and the Boards they serve keep the Reserve Planning Budget up to date every year - and for those who wish for it to be kept LIVE year round, THAT is now possible as well!
In simple terms, No-Site-Visit Updates keep project completions and current cost realties up to date year after year. This assists boards of directors in making budget decisions and maintenance project choices. The Updates include updates to partially or fully completed Reserve projects, an updated evaluation of your community’s current financial health, and updates to your recommended future funding strategies allowing you to continue to meet all future project needs that minimize or eliminate any need for unwanted Special Assessments.
Annual N0-Site-Visit Study vs. LIVE Auto-Update Study
Working with ROYAL Reserves to maintain your Annual Reserve Planning has significant benefits. Our clients choose whether to handle these annual updates all at once, with a traditional Update or to subscribe to our LIVE Update solutions which update their Reserve Study every time they submit Reserve Component Project Updates to their secured, client portal. These LIVE Updates are reviewed by our team and, once approved, update your Reserve Study immediately, allowing you to understand how each completed project effects your Reserve Plan.
There are two key benefits to annually updating your Reserve Study. First, as experienced Property Managers and Board Members can attest, keeping your Reserve Plan up to date each and every year is absolutely the most cost efficient way to manage your community’s long term maintenance demands. Second, it also ensures you will never be out of compliance with any State or National Reserve Study laws. Fiannly, it provides any lender who may be underwriting a loan for a potential new buyer, buying into your community, with confidence that the information in your Reserve Study is current and reliable. Avoid delays waiting for a lender requested Study to be completed, which can often significantly impact a deal timing, by keeping your Reserve Study no older than 3 years old.
We are pleased to include these No-Site-Visit Updates (in either Annual or LIVE form) in our Auto-Update Program! Check out this discounted Reserve Planning Program here.
