What are the different forms of a Reserve Study?

There are Five(5) Basic Forms of Reserve Studies. Each provides a different level of service and are used depending on the Association’s need for funding information.

1. Full: This is includes an on site inspection with a photo inventory of the reserve components to include a physical and financial assessment of all common element components.
2. On-Site: This is an On Site Inspection with update of physical and financial assessment of common element components. A review of the common element components use life and remaining use life and replacement cost is adjusted as may be required.
3. Off-Site: This is a review and update of the associations current financial conditions, deprecation and replacement cost adjustments and revised reserve contribution requirements.
4. Preliminary: This is for preconstruction of new developments estimating reserve components, cost and use life. With this information, the developer can prepare a complete Operating Budget Projection for inclusion in the Public Offering Statement (POS). 
5. Special Application: This format may be used for large sub-components such as parks, recreational facilities, shopping centers, malls, retail services equipment, etc.