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What Is a Reserve Study?

A Reserve Study is a tool which anticipates major common area repair and replacement expenses and develops a prudent Reserve Funding Plan to pay for these expenses. By using meticulous research and analysis together with proven methodologies, a professional Reserve Study provides condominium associations with valuable budget planning information, and guidance on upcoming long-term maintenance and repairs.
A Reserve Study consists of two major components:
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Physical Analysis
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Component Survey and Inventory
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Assessment of Component Condition
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Estimate of Useful Life and Remaining Useful Life
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Financial Analysis
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Current Reserve Fund Status
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Recommended Funding Plan
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MICHIGAN RESERVE ASSOCIATES
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