What is a Reserve Study?
A Reserve Study is a budget planning tool based on the National Reserve Study Standards of the Community Associations Institute. Kipcon’s founder Mitch Frumkin, PE, RS, played an integral role in the development of these standards, which is reflected in the quality of report produced by our team.
The standards dictate that each study identifies the common area components that the Association is responsible to maintain and replace. The Study consists of two parts, the Physical Analysis, and the Financial Analysis.
The Physical Analysis includes the Component Inventory, Condition Assessment and the Life and Valuation estimates. An example is shown below:
Kipcon Reserve Study +™
While most firms follow the standards, the Kipcon Reserve Study +™ is designed to go above and beyond, turning this budgeting tool into a more comprehensive guide geared towards maintaining, and even increasing, your community’s property values.
The Kipcon Reserve Study +™ provides a much more detailed overview of the common elements, including both detailed photographs and suggestions for energy-efficient and maintenance-free alternatives.
Most importantly, it includes access to our online password-protected portal which allows you to interactively adjust your personalized Study. Instead of simply receiving a hard copy report with a static funding plan, this program allows you to change variables, play out different scenarios, and see how each scenario would affect the Association’s overall funding.
Although it is crucial for your Community Association to have a Study, it is not the only step you can take towards a physically sound community. From ongoing preventive maintenance to periodic inspections of your community, Kipcon will have you covered. Not only do we offer reduced fees for additional engineering services, we also include the option to schedule an inspection one year after the study is completed in order to intercept any issues that may arise, as well as the prepartion of a Community Association Operating Manual developed specifically for your community.
If you would like to contact us and have questions about an upcoming project and need assistance, fill in the form below and we will contact you.
RESERVE STUDY + ™