Reserve Study Update, with Site Visit
Reserve studies should be updated every two to three years. The performance of building systems is difficult to predict as factors such as weather, use, and installation quality have dramatic effects on their durability. We can update any existing reserve study, whether we performed the original analysis or it was completed by another firm.
The difference between a Full Reserve Study and an Update with Site Visit is that in a Full Reserve Study, the schedule of quantities of all reserve items (i.e., roads, sidewalks) are determined and calculated, while in an Update, it is assumed that quantities and components shown in the existing reserve schedule are accurate, and therefore only an update of the unit costs and useful lives are required.
An Update with Site Visit includes the following Scope of Work:
- A site visit to establish the current condition of all common elements in order to assign an estimated remaining useful life
- Preparation of a Reserve Study, which includes a physical analysis and a financial analysis, including a 20-30 year funding plan and a threshold-funding plan