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Understanding your building's current shape, and then apportioning funds in a systematic manner, allows you to successfully prepare for the future and avoid unnecessary fines or financial impacts for your community.
Routine and standardized inspections help pinpoint problem areas sooner so that maintenance can occur rather than steep repairs at a later date. Among other requirements, a reserve study has been performed in the past twelve months and Reserve Funds must be at least 10% of the budget. Approvals will be valid for two years; once expired, recertification is required to continue participation in the program. Projects will be reviewed to ensure that all requirements are still being met.
Recent legislation now requires annual reserve studies and that reserve accounts be properly funded. We will help your condominium association stay in compliance in a cost-effective manner. |
