Reserve Fund Studies
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Community Associations face many difficult tasks in maintaining the community and managing the budget. One challenge is to maintain the fine balance between excessive association dues and the need to have adequate funds on hand to cover routine capital repair/replacement projects. Add to that challenge the task of maintenance on an aging complex, particularly if adequate funds were not budgeted in the “early years”, and it can be overwhelming.
Yingst Engineer & Associates’ Reserve Fund Study includes a site inspection and analysis by a Reserve Specialist to understand the condition of the property. This allows us to customize the study based on the actual performance of the included components. Our hands-on approach, coupled with an understanding of the current budget, enables us to provide customized options for the funding of reserves.
Many reports only provide the quantity, estimated replacement cost and estimated remaining useful life for each component. Yingst Engineers provides this information plus the commentary for recommended maintenance, a condition evaluation of the covered components and suggestions for improvements to reduce long-term repair costs. Our reports typically provide at least three funding options for the Association to consider.
Our Reserve Fund Study service provides the Association with the tools needed to determine the best funding approach to meet the community’s needs as well as regulatory requirements. Our Community Associations Institute designated Reserve Specialist would be happy to discuss your particular needs and provide a custom proposal for your community.
Call us at 717-533-3346, or 800-231-3346.
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