How long does it take to complete a Reserve Study?
The first step in completing a Reserve Study is acquiring the information necessary in completing the study. In order to provide the most accurate assessment possible, we conduct an on-site evaluation of the property and determine the current condition of all the common area components. We also contact the vendors, who have done reparation or replacement to the property. Once we compile all the required information, we create a preliminary report and send it to the Association. The preliminary review period lasts 15 days and is intended to verify the common area components of the Association and provide the Board of Directors a period, in which they can ask questions regarding the Reserve Study. After the preliminary report has been approved, the completion of the final Reserve Study will not exceed 30 days.
