The best reserve study you've ever had... and then some!
At the most basic level, a reserve study is a report commissioned by a community association or other ownership entity that seeks to define the future capital expenditures necessary to maintain a specified set of assets. In short, a reserve study projects when each capital expenditure will occur, the expected cost of each expenditure, and computes an appropriate funding recommendation to accomodate those expenses.
Also sometimes called "reserve analysis", "capital reserve analysis" or similar moniker, a reserve study addresses capital and reserve expenditures. The assets and expenditures that fall under the scope of a reserve study vary significantly from property to property. A reserve study does not address "operating expenses". Operating expenses include frequent expenditures like cleaning, staffing, grounds maintenance, utilites, etc. In some situations, an identical expense may be considered an oparating expenditure for one association and a reserve expenditure in another. At Superior Reserve Engineering & Consulting, our service begins by providing expert consulting with you to accurately define your component inventory to be included in your study based on your unique situation, governing documents, and statutory requirements where applicable.