Maintenance Reserve Study in Idaho

Does anyone have experience working with a professional Maintenance Reserve Study company? I'm looking for a budgetary number. We've done a good job projecting and budgeting so far. I would like to know how much is typical. Thank you.

Look for HOA reserve study providers, I think. Don't use the word "maintenance" because all components listed in a reserve study are any common area elements that the HOA is responsible for repairing and replacing. Not all are infrastructure, e.g., playground equipment, pool covers, striping in parking areas or lots. Maintenance may be a part of it too.

Assuming you're a board member, you might contact HOAs similar to yours to see if they'll share what they pay. If your HOA is professionally managed (a "property manager AKA PM) have that person check around. If not, perhaps you can contact board members of a similar HOA.

Responses that you receive here on pricing will vary hugely. It's not just HOA size but complexity (Our urban high rise has nearly 100 reserve components) and local weather conditions, too. in addition, contribution that your reserve specialist recommends will vary from those in other parts of the country. Roof repair & replacement's estimated life expectancies will vary a lot in areas with lotsa snow vs. areas with lotsa sun and sea air vs. roofs in dry moderate climates.

You already have a reserve study that was prepared by your developer, correct? This is required in Calif. by the State Dept of RE before a new HOA is approved, but I have no idea what Idaho requires.

The cost will depend on the amenities.

Last time we had one done was in 2015.
We had minimal amenities - Roads, sidewalks, bus stop, 2 playgrounds, signage, 2 entrance monuments.

The cost was $2,200.

If you have a clubhouse, pool or are a condominium, I would expect a higher price.
Suggest $3K to 5K for budget purposes.

One other suggestion - make sure you know if you want a component study or cash flow study.
Most companies will do a cash flow (aka pooled) study.
We really wanted a component study so had to modify what they gave us.

To learn the difference:

What are Reserve Study Funding Methods and Goals?

Cash flow or component funding: Which is best for a reserve study?

Great information. I appreciate it.