Reserve study
What it is
A reserve study is a planning document that lists major shared property components, records their estimated remaining useful life, and projects when repair or replacement may be needed. It connects that physical review with the association’s reserve funding plan.
Why it matters
It matters because a roof, lift, pool system, or pavement does not wear out on the same schedule. The study gives the board a documented planning horizon. The board and its advisers use the current study, governing documents, and applicable law when they make budget decisions.
QUESTION 1 OF 2
What does a reserve study connect?
ANSWER
The explanation appears here after you choose.
QUESTION 2 OF 2
Does the reserve study make the board’s budget decision by itself?
ANSWER
The explanation appears here after you choose.
THAT’S IT
You know what a reserve study records and why it informs a budget without making the board’s decision by itself.
OPTIONAL · UNDER TWO MINUTES
Want to go over it once more?
Put four statements in order by sequence.
OPTIONAL · UNDER TWO MINUTES
Want to go over it once more?
Put the reserve-planning steps in order.
- Project the repair or replacement timing.
- Identify the shared component.
- Use the study in the association’s reserve planning process.
- Assess its condition and remaining useful life.