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Free
reserve study quote
Simply fill out a Proposal Request and we'll get a quote to you within 1 business day. Click here to begin. |
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FAQ's : Page4
| What is "adequaltely/sufficiently funded"? |
| This is a tricky and always debated answer. In our twenty-four years of company experience, a well funded association has 70% or higher as a percentage funding level. This means the reserve account has adequately funded balances for replacement costs of future requirements. In addition it gives the association the versatility to handle any unforeseen expenditures. Having adequate reserves is like having gas in your car. If you don't adequately fill your tank you will be unable to reach your destination of choice. The importance of an adequate reserve is the empowerment it gives your association to maximize the full potential of property value by replacing common area components at the end of its lifecycle. [back to the top] |
| What is "percentage funding"? |
| A percentage that gives the association a picture of its financial health. Percentage funding is derived from taking into account all of the components in their useful lifecycle respectively, and the current reserve balance available to replace these components. [back to the top] |
| How long does the whole process take? |
| As there phases of the study where the association/management company is responsible for compiling and submitting information, the timeline is determined by how quickly this is accomplished. But, in general, if info is submitted in a timely fashion, we can usually provide a preliminary version of the report for inspection within 30 days of receiving the signed contract.[back to the top] |
| Where is Barrera & Company located? |
| Our corporate offices are in San Diego, and we have satellite offices in San Francisco and the Hawaiian Islands.[back to the top] |
| Where do you perform your work? |
| Barrera & Company completes inspections all over the country; most of our business is in California and Hawaii, but we've done work in Oregon, Pennsylvania, Texas, Nevada, Arizona and Colorado.[back to the top] |
| What services does Barrera & Company offer and what tiers of analysis does the Company provide? |
| We offer the
following three categories of Reserve Studies, from exhaustive
to minimial. I. Full: A Reserve Study in which the following five Reserve Study tasks are performed: · Component Inventory · Condition Assessment (based upon on-site visual observations) · Life and Valuation Estimates · Fund Status · Funding Plan II. Update, With-Site-Visit/On-Site Review:
A Reserve Study update in which the following five Reserve
Study tasks are performed III.Update, No-Site-Visit/Off-Site Review:
A Reserve Study update with no on-site visual observations
in which the following three Reserve Study tasks are performed: |
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Are
you aware it's the law in many states for Homeowner associations
to have a reserve study? The reserve study helps prepare associations
and avoid litigation as a proper budgeting tool to avoid special
assessments with well-maintained common areas.
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Having
adequate reserves is like having gas in your car. If you don't adequately
fill your tank you will be unable to reach your destination of choice.
The importance of an adequate reserve is the empowerment it gives
your association to maximize the full potential of property value
by replacing common area components at the end of its lifecycle.
|