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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.

    Reserve Articles

    • Community Association Reserve Funding: Pooled Method vs. Component Method April 14, 2017 Reserve funding for certain common element items is required for community associations under Florida law. Specifically, condominium associations must fund reserves for roof replacement, building painting, pavement resurfacing and any other item that has a maintenance expense or replacement cost exceeding $10,000. Fla. Stat. § 718.112(2)(f). For homeowners’ associations, if the developer initially established reserve accounts or the members affirmatively elect to provide for reserves, then the association must fund those reserve items in future budgets. Fla. Stat. § 720.303(6)(b). ...
    • Fire Sprinkler Installation and Earthquake Retrofit – Are They Reserve Account Expenses? April 10, 2017 Without a doubt installation of fire sprinklers and earthquake retrofits make buildings safer and could save lives when and if they should ever be needed. Some municipalities have passed rules for installation/upgrading/modernization of these systems but most have chosen to forego putting anything into law as the cost to the owner(s) of the building can be very high. The question we are tackling from our perspective is; should the installation of these systems be paid for from the Reserve Account? ...
    • Best practices for condo boards to plan for future building repairs February 22, 2017 Q: We live in a condo building of 56 units. We have a reserve fund marked for separate items like the elevator, roof, parking lot, painting, etc. If we didn’t have enough money to replace the elevator, can we use some of the money from the roof reserve fund?    Read the Q&A…………..
    • Funding Reserves For the Common Good February 15, 2017 Subdivisions, planned community, and condominium owners are different types of community and offer different types of amenities and surrounding. However, there is one common denominator that people living inside these communities are obliged to conform with to ensure the common good of everybody while accessing or using the amenities of the community, and that is paying dues to the homeowner’s association’s reserve fund.   Read the article……………..

    Reserve Archives

    Reserve Studies

    • 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 ...
    • Service Life of Building Components April 7, 2017 The standard reference for service life of building components such as HVAC systems, Plumbing, air handlers, Digital Controls, and elevators, etc. may come from many different reference books whose authors have deduced, observed, or tested a sample of similar components to produce a “mean” service life. It is unlikely that any single author has lived long enough to test each sample in service, so some assumptions need to be made when arriving at these estimates.   Read the article……………
    • 5 Questions About Reserve Fund Studies April 7, 2017 The Reserve Study is one of the most important documents that a shared asset community can own. Coengineers, PLLC complies with the more stringent standard of the Canadian Reserve Study Act combined with the ASTM E2018-08 standard for building condition assessments where practical. This standard of care provides the Board, The Management Company, and the community of owners with the highest level of legal and technical resilience in the industry. Don’t sell your community short on reserve fund analysis. No ...

    Reserve Studies Archives

    Reserve Resources

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