Condo Reserve Fund Study
Unmatched reserve fund study support
A Criterium-Jansen reserve fund study includes a physical analysis, which lists each component forming the basis of the study and also includes the quantity, estimated replacement cost, and estimated remaining useful life for each component.
Also, within the condo reserve fund study, we provide recommendations for ongoing maintenance of all systems as well as a condition evaluation of each. We may also consider options for improvements, enhancements, or compliance with newly enacted regulations. This then provides you with a basis for determining how much money your Condominium Corporation should be setting aside to account for the repair or replacement cost of each of these items in future years as the useful life comes to an end.
The condo reserve fund study comes with a complete property condition report. Each building or property system is carefully evaluated and reported on in a separate section of our report. This includes, as appropriate, site and grounds, amenities, structural systems, roof and siding, mechanical, electrical, and plumbing systems, common interiors, and life safety, among others.
Condominium Financial Analysis
One of the keys to the reserve fund study is the financial analysis, which includes a review of a 30-year projection giving the Condominium Corporation a true picture of their financial well being.
By looking at both the immediate and long-term, it is possible to establish a reserve-funding plan, which most accurately fits your specific needs. This projection gives the Corporation the necessary information to develop its yearly contributions based on an average over a number of years, and assists its investment strategy for the funds, because it identifies when they will be needed.
A Reserve Fund Study includes the following Scope of Work:
- A review of the Condominium Corporation’s documents to determine which components make up the common and limited common elements (Component Inventory) as well as their quantities.
- A site visit to establish the current condition of all common elements to assign an estimated remaining useful life.
- Preparation of a Full Reserve Study, which includes a Property Condition Report, physical analysis, and financial analysis, including a 30-year funding plan.
- Iterative funding options analysis.
No other firm offers you these benefits.
Contact us today at 1-888-940-0571 to schedule a reserve fund study at your condominium.
To learn more about our condo reserve fund study services, please read our blog post on 6 Things You Need to Know About a Reserve Fund Study