Reserve Professionals

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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

    • 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 ...
    • The Benefit of Updating your Reserve Study Annually March 28, 2017 Reserve Studies are budget planning and disclosure documents prepared to help the board meet their responsibility to care for the assets of the association. Many of the association’s common area components are so large that the association needs many years to prepare for those expenses financially. So what happens when Boards don’t update their Reserve Study for years, and instead make decisions based on outdated information?  Reserve Studies involve an evaluation of the current physical assets of the association, and ...
    • House of Delegates Passes Legislation Requiring Periodic Reserve Studies (MD) March 28, 2017 By a vote of 135-1, the Maryland House of Delegates has passed House Bill 651, which would require condominiums and homeowner associations to conduct reserve studies of the common elements and common areas. As discussed in an earlier post, the new law would provide that, within 90-days of the meeting at which the unit owners assume control of the council, a reserve study must be conducted of the common elements, and the condominium must conduct a reserve study every five ...

    Reserve Studies Archives

    Reserve Resources

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