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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

  • 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……………..
  • Funding Your Future: Predicting & Budgeting Your Association’s Repairs & Improvements June 26, 2017 All community associations require routine maintenance, repairs, and replacement over time to ensure they remain in good condition. The task of ensuring the Association retains sufficient funding to pay for this maintenance, repair and replacement work falls squarely on the shoulders of the Board of Directors. Balancing the Association’s financial and maintenance needs is a critically important responsibility every Board grapples with.          Read the article…………..
  • 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? ...

Reserve Archives

Reserve Studies

  • 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 ...
  • 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……………

Reserve Studies Archives

Reserve Resources

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