The diy reserve study kit teaches you how to build a component list inline with national reserve study standards. With clients in over 35 states and four countries reserve analyst serves the broad market of reserve study software users. Reserve study professionals reserve data analysis, inc. Association reserves has 32 years of reserve study experience helping many properties budget responsibly and create reserve funding plans. Diy reserve study software also transfers the liability back to the board and specifically that member who feels they have the expertise to complete the update. Ars is the reserve study consulting and software firm that the most financially sound communities nationwide turn to for insight and guidance.
Only one other software product in the usa has reached this level of achievement. Instead, it is a list of the major common area components with an estimate of their remaining useful life. Smartproperty helps improve the accuracy of your budget so you dont run out of money. Facilities 7 reserve study software has been certified by icbi to meet the exacting software requirements of the international capital budgeting institute. But if an association thinks they can come up with their own component list the least they should do is have an independent professional enter it into a software program and calculate the funding plans. This tool is ideal for smaller hoas with minimal common area assets. The reserve study is a capital major repair and replacement budget. Most reserve studies, often called custom, include 1 a condition assessment and replacement cost estimates of a community associations common elements and 2 a reserve funding plan to pay for future replacements when they are incurred. Our affiliate, condo communities, provides homeowners associations and their directors, homeowners and managers with an innovative, cost effective, and efficient software solution to manage your homeowners association. Compare features for each lucid reserve study edition. What should it include, and how often should it be done. Using the reserve funding analyzer rfa, the creation of your reserve study is broken down into three key steps or phases. Use our reserve study software learn about the diy. Download our free reserve study templatesample what is a reserve study.
Pra system is the most comprehensive set of reserve study software tools available today. Reserve analyst is the premium reserve study software on the market today. Ive done property management for the last 10 years, residential condocoophoa associations the last 4 and ive had a few boards elect to do their own reserve studies. If you have questions about your hoas reserve funds, contact your community manager for assistance. Are you responsible for creating the reserve study for your homeowners association. Not every state has laws requiring reserve studies, but it is a good idea for every hoa, regardless of the laws, to have a professional reserve study conducted at least every few years.
Youve managed your homeowner association well, and youre proud to have substantial hoa reserves. The industry leader in reserve management solutions a modern, endtoend approach to reserve study software and a global network of reserve analysts. Reserve study software hoa condo brian mccaffery 20191211t19. Its designed to get you up and running quickly, and offers a deep set of scenarios, forecasting models and reporting features to make reserve management run like clockwork. Often times, the custom reserve study is presented in a series of computer generated tables of. Reserve study software the intelligent approach to. Determining the capital components are fairly straightforward but determining what amounts you should plan for can be tricky as, for instance, the price of oil at a given time can have a dramatic impact on paving. Download our free reserve study template sample what is a reserve study. We are exploring software to do our own reserve study. Arrange maintenance easily and efficiently, either from hoa manager or on the property with a smart phone. Using our skilled staff of reserve specialists and proprietary reserve study software, we calculate your associations reserve fund strength percent funded. If your hoa has not had a reserve study conducted yet, get started on it now. If the reserve study was completed in a previous year, then an inflation factor may be applied to the cost estimates.
The allocation of reserve items is not written in stone. Save time and money with our free reserve study software. Smartproperty takes your capital reserve study data and turns it into simple, easytounderstand charts, graphs, and reports so you can effectively communicate where the money is going. First of all they dont have the experience that a reserve specialist has and it can be a liability issue and a conflict of interest. The hoa reserve study process an overview for hoa directors. If you said yes to any of these questions, this reserve study software is for you. Using the information from step 2, calculate the estimated cash flows over the remaining useful life of each component.
We use another 3rd party software and want to change. Complete a condo or hoa reserve study in a few hours without spending thousands of dollars you may be required to do a reserve study for your condo association every few years, but that can cost a lot of money. Reserve fund study for condominium and homeowners associations capital reserve study services. If your hoa has had a reserve study completed, make sure you are utilizing it as a tool to plan for the future. A reserve study is a budget planning tool that identifies the current status of reserve funds and recommends a stable and equitable funding plan to offset future costs for repairs and replacements of physical assets.
Free reserve study software reserve studies for hoas. A reserve study is not actually a study of the roofs, boilers, streets, etc. Do you want to experiment with different numbers in order to see if you can. If you need to support multiple associations or need access to additional reports, you should examine the features of the lucid reserve study professional edition. With a 20 and 30year forecast and yearbyyear snapshots, you can confidently track your historical costs and plan for your future. Reserve studies for hoas we are an arizona reserve study. The reserve study will, in most cases, estimate the cost and timing of the repairs and replacements to the common areas that will likely be needed over the next 20 to 30 years. Reserve studies done by us also contain all information required by state and national standards for your convenience and understanding. Hoa manager is the only hoa management software that includes a built in reserve study. A reserve study is a longrange maintenance plan, usually created by a reserve study company or reserve study provider for a community association, homeowners association, condominium association, timeshare or other cic. The purpose of apra is to provide a common base of knowledge, standards of care, and professionalism within the reserve study provider industry. Craft a 30 year funding plan based off of each associations unique component list, we craft a custom 30 year funding plan. Reserve study free software free download reserve study free. Create your living capital reserve history today and throw away that budgeting crystal ball.
Now youd like to put those reserves to work so that you strengthen your community associations financial footing even further. The association of professional reserve analysts apra was founded in 1995 by principals of the nations leading reserve study provider companies. Reserve study software hoa condo mccaffery reserve. A reserve study evaluates the condition of major assets and amenities, estimates when they will need to be repaired or replaced, and how much that will cost. Recognized as one of the leading providers nationwide, the helsing group has produced over 50,000 reserve studies on over 3,000 communities nationwide. Start with the estimated costs set out in the most recent reserve study for each component or asset. Three key steps for creating your own reserve study. A reserve study is a report thats designed to provide a framework of the common areas that the hoa is responsible for. Reserve study excel software free download reserve study. An hoa commonly has an outside accountant prepare a reserve study, which sets out a longterm schedule of likely costs and repairs. Association reserves reserve study services for hoa.
Reserve studies should be done by someone who specializes in reserve studies. Sample hoa reserve study report mccaffery reserve consulting. Amazing reserve study software the diy reserve study kit. Our hoa reserve study reports are detailed, informative, accurate and professional. We are considering offering reserve studies to the properties we manage. If the reserve study was completed in a prior year, then the remaining estimated useful life will need to be adjusted to reflect the time elapsed since the last reserve study. This study also provides replacement cost projections based on a 20 to 30year trajectory. With offices in texas, colorado and california, we have been preparing quality reserve studies across the united states for over twelve years.
We wrote the book on capital reserve studies reserve studies the complete guide. A reserve study is a longterm capital budget planning tool which identifies the current status of the reserve fund and a stable and equitable funding plan to offset ongoing deterioration, resulting in sufficient funds when those anticipated major common area expenditures actually occur. Smartproperty features of a capital reserve program. With this free reserve study software you will be able to calculate your current percent funded level. Do you want to check the numbers provided to you by your management company. Over the years boards have been generally trying to limit their liability after many instances of board members making decisions that they felt were in the communitys best interest. The reserve funding analyzer software for reserve studies the reserve study software that is the keystone for effective financial analysis for diy reserve studies.
You can then use this free reserve study software to compile your inspection and inventory data, analyze the replacement reserve balances over time and model the impact of varied annual reserve contributions and special assessments to best plan for the future needs of the association. The reserve study should disclose to buyers, lenders, and others the manner in which management of the association i. Our unique report is specifically adapted to address the areas that fall short or fail completely to properly communicate critical information, common to most reserve reports delivered today, and improve those elements so that the. Nothing on this website is meant to be legal or financial advice. Your company has developed an excellent product for small hoas to meet their reserve study requirements. Learn about doityourself reserve studies and using the reserve funding analyzer to perform the financial analysis for. Preparing a reserve study calls for explicit association decisi ons on how to provide for longterm funding, and on. Discussion forum for reserve funding, the reserve funding analyzer and hoa reserve study reports. Reserve calculations for homeowner associations carr. We were key leaders in establishing reserve study standards for the association of professional reserve analysts apra and community associations institute cai. Serving the industry for over 16 years, reserve analyst is the most powerful and flexible modern windows software application in the industry.
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