Self-Guided Reserve Fund Studies

Hello All,

My HOA needs to update its Reserve Study. Hiring the review will cost thousands but my property manager has recommended a self-guided Reserve study where we would inventory the property and send our results to a company to compute the data. This costs a few hundred dollars. Has anyone used a semi-self guided reserve study and with what results?

Hey Kelly -

A well done reserve study will give your community a great deal of confidence for budgeting and financials in the future. Your taking a great step to get a handle on your community.

To answer your question, I think it really depends about the size and complexity of your communities common property and assets. If you have a clubhouse with kitchen and pools fitness centers... I think it would likely be worth it at least the first go around. If it is mainly fencing, or sidewalk.. you can do it with a guide.

We had a company come in and do ours. Some of the numbers were seemingly off but as time has gone by they have turned out good.

Take Care