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That Is

A Reserve Study

A Reserve Study

A PROFESSIONAL CAPITAL BUDGET PLANNING TOOL FOR COMMON INTEREST DEVELOPMENTS

California Reserves LLC Provides Level 1, Level 2, and Level 3 Reserve Study Reports To Associations in The Golden State.

Each association is different and has its own unique goals and issues. California Reserves LLC works closely with each association to help its Property Managers, Home Owners, and the Board of Directors to create and customize a long term funding plan to pay for reserve costs and achieve association goals.

Level 1: Onsite

Brand new Reserve Study Report with onsite inspection prepared from scratch

Which Associations Qualify For A Level 1 Report?

New Associations, Associations that have never completed a Reserve Study Report, and Associations who have recently completed Significant Construction.

Level 1 Report Will Include:

  • A Count And Measure of All Components
    • (some sampling may be used)
  • A New Component List for The Association
  • Onsite Inspection Photos
  • An Updated Funding Plan
  • An Understanding of The Associaton’s Needs
  • A New Reserve Study Report
Get Started

Level 2: Onsite

Update your previous Reserve Study Report with an onsite inspection

Which Associations Qualify For A Level 2 Report?

Any association that has completed a reserve study in the last 5 years is eligible for a reduced cost Level 2 Reserve Study Update with Onsite Visual Inspection. This satisfies CA Civil Code §5550’s requirement that associations complete a visual inspection of their components once every three years.

Level 2 Report Will Include:

  • A Visual Inspection of All Components
    • (some sampling may be used)
  • An Update of the prior Reserve StudyReport
    • Component Age advanced 1 year
    • Components adjusted for inflation
    • Addition of incurred or planned reserve expenses
    • Current Financials
  • Onsite Inspection Photos
  • An Updated Funding Plan
Get Started

Level 3: Update

A financial update of the Reserve Study Report without site inspection

Which Association’s qualify for a Level 3 Update?

Any association that has completed a reserve study with onsite inspection within the last two years can get it updated at a low cost. Associations are highly recommended to update the study each year to ensure that expenses are acurately captured and that the association is still on track to meet it’s financial goals.

Level 3 Update will include:

  • An Update of the prior Reserve Study Report
    • Component Age advanced 1 year
    • Components adjusted for inflation
    • Addition of incurred or planned reserve expenses
    • Current Financials
  • An Updated Funding Plan
Get Started

Learn How California Reserves Can Simplify Your Reserve Study Report

REQUEST A FREE PROPOSAL
View a Sample Study

Learn How California Reserves Can Simplify Your Reserve Study Report

REQUEST A FREE PROPOSAL
View a Sample Study

Your Association Is In The Hands Of Qualified Professionals

Your Association Is In The Hands Of Qualified Professionals

What happens next?

Proposal

You will receive your proposal within 1-3 business days of submitting a request. The proposal will include pricing for each level of service and a list of documents and information that we will need to get started.

Gather Documents & Import Data

After we receive a copy of the signed proposal, we will review the documents & information provided and will begin importing the data into our system. If you have questions or issues with the previous Reserve Study Report, this is a great time to set up a call or send an email. The more information that we are provided, the more accurate the report will be for your association.

Onsite Inspection (Level 1 & 2 only)

After we’ve received and input your association’s information and documents we’ll reach out to your point of contact to schedule the onsite inspection. Most of the time we will not need to meet with anyone on site to complete the inspection. Most questions and concerns can easily be addressed before the inspection or after we have delivered the initial draft of the report. If there are locked areas that do not have a vendor code or key set, we will meet with a point of contact and inspect those areas first before moving on with the remainder of the association.

Draft Delivery

When we have finished with the initial version of the Reserve Study Report we will deliver it through email in .pdf format. The first task that the board should complete is to review the component list to ensure that the schedule matches up with the association’s plans. There is a breakout of components that are at or near the end of their useful lives and the board should determine which components will be addressed in the upcoming year and what will be deferred.

Once the component list is approved, we will work with the association to create a custom funding plan that will achieve their goals.

Final Report & Disclosures

After the board has approved the Reserve Study Report, we will prepare a final report and a disclosure summary at no additional cost. The disclosure summary includes all necessary information required under California Civil Code and should be incorporated into your association’s final budget package that is sent to all owners.

What Happens After?

We view the Reserve Study Report as a living document and will work with your association throughout the year to keep it up to date. If you have questions or projects throughout the year, feel free to send us an email or give us a call.

We’re here for you!

If you’re looking for information or assistance,
please feel free to give us a call or send us a quick note.

1 (855) 4-YOUR-RS

1 (855) 496-8777

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