Major Asset Replacement Reserve Studies are generally performed for multi-family condominium associations, commercial building management and property management companies.
This study is based upon the findings of the Property Condition Assessment. The emphasis of this study is to identify each major asset (component) that can be expected to fail and need replacement at some point in the future. Future costs are based on the actual cost in today's dollars plus an estimated inflation factor. These anticipated costs are typically spread out over a twenty (20) year period to help clients see what funds they need to reserve to be able to fund the replacement without incurring special assessments. It should be noted that this study does not focus on regular maintenance or repair items, but is specific to those components or substantial cost items that will require future replacement.
Avoiding some unpleasant surprises of Condominium ownership......
