Reserve Fund Study Preparation

A well-executed Reserve Fund Study provides Property Managers and Condominium Boards with the insight needed need to plan capital improvements, secure budgets and reduce long-term risk.

Want to make your next reserve fund study smoother—and more valuable? Having the right documents ready can make a big difference. Here are a few key items to prepare to get the most out of your assessment:

1. Architectural Drawings & Survey Plans

Having layout drawings available allows surveyors to orient themselves quickly. By making both site navigation and the identification of key systems more efficient, valuable time is saved during the assessment process.

2. Service Records:

Past maintenance reports offer insight into recurring issues which is critical for diagnosing system inefficiencies and estimating remaining service life. Recent repair history also supports a more accurate projection of system lifespans as well as future service needs.

3. Financial Records:

Sharing details of what’s been repaired since the last study helps surveyors understand what work has already been addressed. The past 3 years of data is good; 6 years is even better. Think of a reserve fund study as a two-part process: looking at the past to plan for the future.

4. The Board of Directors’ Goals:

Having the board of directors verbalize their long-term goals and priorities helps align the reserve fund study with the overall vision for the property. Clear communication of these goals ensures that the assessment addresses the most critical needs and future planning objectives.

A little prep = clearer results + stronger capital plans.

Ready to schedule your next reserve fund study? Cion is ready too.