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Reserve Designations

Association of Professional Reserve Analysts (APRA) is the world’s premier trade organization for reserve study professionals. APRA hosts an annual Symposium for continuing education, provides credentialing and produces the APRA Advisor newsletter that is circulated to thousands of potential reserve study customers.

Community Associations Institute Reserves Specialist – The RS designation is awarded to qualified reserve specialists who, through years of specialized experience, can help ensure that community associations prepare their reserve budget as accurately as possible. RS designees must meet comprehensive requirements.

  • Real Estate Claims of “Strong Reserves” – Be Careful! August 5, 2017 But one trend that continues to surprise me is how often claims of “excellent condo association reserves” and “strong association reserves” appear in our weekly monitoring reports. By following the links, I discover that these phrases on condo listings from major real estate marketing sites including Redfin, Trulia, and Zillow. This raises many questions in my mind: What is the basis of such claims?   Read the article…………..
  • What is an HOA Reserve Specialist? August 1, 2017 An HOA reserve specialist conducts a study of the major capital systems within an homeowners association. The specialist evaluates the condition of major items, estimates when the item will need replacing, and projects the cost of replacement. The purpose of such study is for associations to decide how much money to set aside for major upgrades and replacements. A reserve study serves as a guide to timeline estimates and projected costs.     Read the article……………..

Reserve Articles

  • Earmarking Reserves In Your HOA October 17, 2017 Most homeowner associations are entrusted with substantial common elements which must be maintained, replaced or renewed. All of this costs a lot of money. Borrowing said money is a very bad idea because it comes at a very high price in the way of interest and fees which must be repaid along with the principal. The cheapest and fairest way to pay for these expenses is to earmark a portion of the monthly, quarterly or annual fees and hold this ...
  • Why Does Your HOA Board Need to Maintain Reserve Funds? September 28, 2017 You probably receive your HOA’s annual budget for review and notice the line item called “reserve fund.” You probably wondered: why does the Board need to maintain reserve funds? Well, this post will answer that question for you. Let’s start with a few basics.    Read the article…………….
  • Proactive HOA Budgeting for Your 2018 Capital Improvement Projects September 5, 2017 Proactively planning your 2018 capital improvement projects is a key step in your 2018 HOA budget preparation process. First, be sure to carefully prioritize next year’s projects so that the most critical are guaranteed to get done, while the “nice to haves” can get done if time and funds allow. Once you’ve prioritized your 2018 projects, it’s time to analyze each of them in terms of scheduling considerations; status as capital improvements or not; contractor payment structure; use of reserve ...
  • What is an HOA Reserve Specialist? August 1, 2017 An HOA reserve specialist conducts a study of the major capital systems within an homeowners association. The specialist evaluates the condition of major items, estimates when the item will need replacing, and projects the cost of replacement. The purpose of such study is for associations to decide how much money to set aside for major upgrades and replacements. A reserve study serves as a guide to timeline estimates and projected costs.     Read the article……………..

Reserve Archives

Reserve Studies

  • A Practical Overview of the Condo Association Reserve Study September 18, 2017 The Condo Association reserve study is perhaps the most boring document you can imagine. It is also one of the most important for your community. It is a foundational document for all of your financial planning as a community, and the difference between smooth sailing and a special assessment. Here is an overview of the Condo Association reserve study.
  • Real Estate Claims of “Strong Reserves” – Be Careful! August 5, 2017 But one trend that continues to surprise me is how often claims of “excellent condo association reserves” and “strong association reserves” appear in our weekly monitoring reports. By following the links, I discover that these phrases on condo listings from major real estate marketing sites including Redfin, Trulia, and Zillow. This raises many questions in my mind: What is the basis of such claims?   Read the article…………..
  • Understanding the Importance of a HOA Reserve Study June 6, 2017 For each Home Owner’s Association (HOA) there are regular expenses that come out of the annual operating fund, and there are the occasional necessary large expenses that must come from the HOA’s reserve fund. It’s not always easy to predict when these special expenses will occur or how much money they’ll be and it’s especially difficult to have already collected the right amount to pay for them. This is why HOAs often hire a Reserve Specialist to examine their potential ...
  • Why Have a Professional Reserve Study May 30, 2017 Every community association has three functions – to serve as a business, a government and a community. Community associations are generally nonprofit corporations, functioning in many ways as businesses with revenues (association dues, clubhouse rentals, revenues from golf course or restaurant, etc.) and expenses.  As a business, the Board needs a business plan for the maintenance of the assets of the Association. Which assets or parts thereof (i.e. partial pavement replacements, phasing roofing replacements) will require repair or replacement, when ...

Reserve Studies Archives

Reserve Resources

Miller Dodson Associates has a number of articles, presentations and videos regarding reserves