Dust Off Your Reserve Study – Common Interest Podcast Episode 19

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Dust Off Your Reserve Study

Corinne Billingsley from Reserve Advisors discusses what is included in a reserve study, how an association can use it as a planning tool, and what common mistakes associations make when reviewing their reserve study.

This episode features Corinne Billingsley from Reserve Advisors with an in-depth discussion about reserve studies and how associations can best use one as a tool for planning.

A reserve study includes an estimate of the remaining useful life for each of your association’s common elements, as defined by your governing documents. After performing a visual inspection and reviewing the maintenance history of these elements, your reserve study becomes a roadmap for the capital expenditures your association may need to make in the coming years. This makes it a vital decision-making tool for setting assessments and prioritizing the projects to remodel, refurbish, or replace each year with your reserve funds.

We talk about what tough situations associations might often find themselves in after receiving their reserve study. Spoiler, the worst thing you can do is let it collect dust! Listen to this episode to find out how you can put your reserve study to work.

About the Common Interest Podcast
New episodes will be available for download every 1st and 3rd Tuesday, listen to them in your favorite Podcast app or listen to them here in the CAI Illinois Blog. The Common Interest Podcast is now available for free download from several podcast directories, including:

If you have a story you’d like to share on the Common Interest Podcast, contact Brandon at the CAI Illinois office – [email protected] or (847)301-7505 for more information on how you can get involved.

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