What you should expect from your study professional:

  • He or she should spend the time with you to lead, guide and ultimately hand the study and its operating to you. This is best done with a degree of consulting and “hand holding” where necessary.  It is not just a list of replacement costs, it is a powerful tool that, if used properly, can guide the community to financial security for decades.​
  • North Star errors on the side of "too much", and not simply the minimal or "what is required".  We ensure all components are included which sometimes forces conversation about components that may need to be excluded or left entirely to the operating budget.  We have found that by doing so, each component is considered and the study is tailored to the needs of the governing body.
  • Be available and accessible to discuss the reserve study with transition future board members.  This cohesiveness in the transfer of HOA board members and their individual agendas is essential to the good use of a reserve study.

What is a Reserve Study?

Call (208) 365-0977

At its core, a reserve study is a financial projection of income and expenses over a pre-determined period of time.  However, dozens of factors make up a reserve study which have a compounding effect on those expenses.  

Here is a brief list of key items that make up a reserve study and how this affects your homeowners association (HOA):

  • A physical inspection, evaluation and analysis of all community assets which the community is required to maintain, repair or replace.
  • A review of the community reserve balance(s) and contributions.
  • The development of a comprehensive list of maintenance and replacement items (“component list”), over 30 years and the schedule and time frames (“Useful Life”) for which they are to be maintained.
  • The creation of Funding Model which outlines the HOA's need to contribute to reserves (“savings”) in order to maintain the components listed as well as determination of the current financial status and well being the HOA.

Call to learn more: (208) 365-0977