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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 : Page 5
| Are HOA's required to have a reserve study completed? |
| Yes, in California, Hawaii, Oregon, Washington, Nevada, Virgina, Texas, Florida, and Illinois, and Massachusettes. They vary by state on requirements so its best to speak to a local law firm that specializes in homeowner association law.[back to the top] |
| Are HOA's required to adhere to Barrera & Company's findings/funding options? |
| No. The extent of legal responsibility is to complete the diligent, onsite inspection, comprise the appropriate reserve analysis report, and make the findings of the report available to all homeowners in the association.[back to the top] |
| When Barrera & Company completes the analysis, does the Company actually inspect the site? |
| Yes, in a full study, a qualified inspector physically inspects your association's components on-site.[back to the top] |
| How much do financial updates cost? |
| They vary, but financial updates usually cost approximately 50% or less of a full study.[back to the top] |
| Does Barrera & Company have some info you can send me about the Company? |
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Yes, we can send you some literature on Barrera & Company, as well as a sample report if you'd like. Please call us at 800-543-8670 for more information.[back to the top] |
| Can I schedule a face-to-face meeting with Barrera & Company's inspector for Board of Director meetings? |
| Yes, but we prefer to arrange conference calls as opposed to traveling on-site. There's a $200 dollar fee to schedule an on-site meeting, although, free of charge we are happy to meet a contact on-site during the time of the inspection to answer questions.[back to the top] |
| Can Barrera & Company email or send copies of a report? |
| Yes, we can send the financial report via email. We do charge for extra hard copies of the report which depends on whether you want a color or b/w copy, and if you want it bound or unbound.[back to the top] |
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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.
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