Thinking about starting my own reserve study company

Started by HenryS7 • 1 replies • 178 views

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HenryS7 (Pennsylvania)
Posts: 336

Posted:

I'm thinking about starting my own reserve study company.

Anyone else look into this and what might it take?

I'm annoyed at the quality of work from our current vendor and think I could do a much better job. I wouldn't do it for my own HOA of course but may offer services to other homeowners associations.

Practical? This would be a part time gig for me. I would probably do the reserve study fieldwork and preparation on Saturdays. I am a licensed professional engineer and this would be something that I could do under my engineering license. I don't know of any state licensing requirements for reserve study firms. (Probably should look into this.)

SheliaH (Indiana)
Posts: 6,964

Posted:

Well, if that's what you think you'd like to do, do your research - things are NEVER as easy as you think. You've been on a HOA board long enough to fight this out. I know you weren't happy with your community's recent study, but as I recall your last post, you looked at the numbers, didn't agree with all of them, did some research, showed it to the specialist, who made adjustments. So now what you mad about?

Here's a link to an article on reserve specialists and what they do. Note it helps to have some property management experience, So if your like to pursue it, go ahead and good luck.

How2hoa.com/what-is-a-reserve-specialist-in-a-Hoa/

Hopefully that link works - if not just Google it.

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

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