Reserve studies must be reviewed, evaluated, and updated every 2-3 years to cope with the current trends, changes, and finances. This is also important to keep you abreast of the performance of building systems since factors such as weather, utilization, and installation quality have dramatic effects on its quality and resilience. We can assist you in updating your existing reserve study whether is previously done by our company or by another firm.
With Reserve Study Updating, it is expected that the existing study already contains accurate quantities and components shown in the current reserve schedule. Doing the update would be a great countercheck measure to correct or revise outdated data or budget projections.
Aside from review of existing data, our services include the following scope of work:
- Site Visitations to establish current conditions of all common elements to estimate their remaining duration of their productiveness and usefulness.
- Preparation of an Updated Reserve Study including physical and financial analyses and 20 to 30-year funding plan and threshold funding plan.