Reserve Study and Updates
All Reserve Study preparers are not equal. Mitch Frumkin, PE, RS owner & founder of Kipcon chaired the national task force which developed both the National Reserve Study Standards of the Community Associations Institute’s as well as the Reserve Specialist designation (RS). He is currently co-chairing the task force which is updating these standards and is the coauthor of the book entitled “Reserve Funds: How & Why Communities Invest Assets” published by CAI.
A Reserve Study is a comprehensive, budget-planning tool. It consists of a physical and financial analysis and is based on the common area components described within the association’s governing documents. The study acts as a road map for planning the community’s maintenance, repair, and replacement needs.
Without expert planning, common area components such as roofs, facades and mechanical systems can become serious financial liabilities. Through careful inspection and financial analysis, Kipcon will determine the longevity of your common area components and the amount of reserve funding required for your community to adequately meet its replacement needs.
Our staff of Reserve Specialists™, are recognized by for their expertise in reserve studies. The Kipcon Reserve Study meet all the requirements of:
- National Reserve Study Standards of the Community Association Institute (CAI)
- Common Interest Realty Guide of the American Institute of Certified Public Accountants
- Guidelines within the banking industry promulgated by Federal Housing Administration(FHA), Fannie Mae, & Freddie Mac
We are the only firm to also offer a Kipcon Green Reserve Study®. The goal of this type of study is to help guide your association in reviewing the physical components of your community, and their relationship to the budget as they relate to replacements, maintenance, and energy.
Typically, 70% of the association’s budget is comprised of maintenance, reserves, and energy. By understanding the relationship between these parts of the budget, significant life cycle savings can be realized.
Learn more about Reserve Study by viewing our Reserve Studies Webinar, presented by Kipcon President Mitchell Frumkin. We also invite you to visit Kipcon’s YouTube Channel to learn more about our capabilities in preparing Reserve Studies and Green Reserve Studies®.
All proposals are free of charge and we are always eager to present our offers in person. Call Kipcon or request a proposal today and let us help your association develop a Reserve Study to meet your specific financial needs.
If you would like to turn your study from a budget tool into a Capital Replacement Plan, ask us about how to incorporate a Capital Needs Assessment into your Reserve Study!