Reserve Studies

A reserve study is a financial and physical assessment of your HOA's shared property components, such as roofs, pools, landscaping, and roadways. It provides a clear roadmap for future maintenance and replacement costs, ensuring the community remains financially stable and well-maintained. HOAs need a reserve study to:

• Plan for long-term expenses.
• Avoid sudden special assessments.
• Meet state reserve funding requirements.

It’s recommended to conduct a full reserve study every 5 years and update it every 1 to 3 years. Regular updates account for completed projects, inflation, and changes in the condition of your community's assets.

Percent funded measures the current reserve balance against the ideal fully funded reserve balance. It reflects the financial health of your HOA:

• 100% Funded: Ideal financial stability, with reserves matching future needs.
• 70-100% Funded: Considered strong and well-prepared.
• Below 50%: Indicates a significant risk of special assessments or deferred maintenance.

A comprehensive reserve study includes:

1. Component Inventory: A detailed list of all shared property components (e.g., roofs, sidewalks, HVAC systems).
2. Condition Assessment: Evaluation of each component’s current state and remaining useful life.
3. Cost Estimates: Projected costs for maintenance, repair, or replacement.
4. Funding Plan: Financial modeling to help your HOA build and maintain adequate reserves.

Yes. A well-prepared reserve study provides your HOA with a clear funding strategy, reducing the likelihood of unexpected special assessments. By proactively contributing to your reserves, you can smooth out expenses over time and avoid financial surprises.

• Cash Flow Method: Projects total expenses and reserve contributions over time, allowing for flexible funding strategies.
• Component Method: Focuses on specific components, ensuring funds are allocated for each item’s projected needs.
  At United Financial Solutions, we help you determine which method best suits your community’s needs.

• Expertise: Led by seasoned CPAs, we deliver reserve studies backed by industry standards like RSMeans and Marshall & Swift.
• Customization: Our studies are tailored to your HOA’s unique needs and goals.
• Actionable Insights: We provide practical recommendations to guide your HOA’s long-term planning.

Inflation increases the future costs of maintenance and replacement. Our reserve studies incorporate inflation projections to ensure your funding plan stays realistic and effective over time.

We combine decades of financial expertise with a proactive approach to planning. Our detailed reserve studies go beyond compliance, equipping your HOA with the tools needed to protect your community’s assets and financial stability.

Contact us today to schedule a consultation. Our team will guide you through the process, from the initial site inspection to delivering a comprehensive reserve study tailored to your HOA’s needs.

 Your HOA's reserve fund is the backbone of maintaining and preserving community assets. Conducting a reserve study ensures your association can plan for future repairs and replacements with confidence. However, not all reserve study companies are created equal. Choosing the right partner can make the difference between a well-prepared community and one burdened with unexpected costs. Here are six essential factors to consider when selecting a reserve study company, tailored specifically to the needs of HOAs. 

Before engaging with a reserve study company, your HOA board should have a thorough understanding of the community’s financial status. This includes:

• Current reserve balances.
• Historical maintenance expenses.
• Patterns of emergency repairs or deferred projects.
  By providing this information to your reserve study company, they can better tailor their analysis to your community’s unique needs, ensuring realistic and actionable recommendations.

Reserve studies require a combination of technical expertise and financial insight. Look for a firm with:

• Certifications and Affiliations: Check for accreditation from organizations like the Community Associations Institute (CAI) or the Association of Professional Reserve Analysts (APRA).
• Industry Experience: Prioritize companies with a proven track record of working with HOAs similar in size and complexity to yours.
• Expert Teams: Ensure the company has both engineering and financial specialists who understand the nuances of reserve studies.

United Financial Solutions stands apart with a team of CPAs and industry experts who leverage decades of experience to deliver precise, actionable reserve studies.

A quality reserve study company should offer more than just a basic report. Look for firms that provide:

• Initial Reserve Studies: Full assessments of your community’s assets and funding needs.
• Update Services: Regular updates to reflect completed projects, inflation, and evolving community needs.
• Financial Modeling: Options like cash flow and component-based methods to help your HOA choose the best funding strategy.

United Financial Solutions specializes in all aspects of reserve studies, delivering tailored solutions for communities large and small.

Budget constraints are a reality for most HOAs, so understanding costs upfront is crucial. Factors that influence the price of a reserve study include:

• The size and complexity of your community.
• Whether you require separate firms for physical and financial analyses or a single company that handles both.
• The extent of your board’s involvement in the process (e.g., will they take on certain tasks to lower costs?).

United Financial Solutions offers clear, upfront pricing and comprehensive services to help your HOA avoid hidden fees while maximizing value.

An incomplete or inaccurate reserve study can leave your HOA open to liability. Partnering with an experienced, qualified firm ensures compliance with industry standards and minimizes risks. However, even with a professional study, your HOA board remains ultimately responsible. That’s why it’s essential to choose a firm with liability insurance and a history of delivering reliable results.

United Financial Solutions prioritizes compliance, ethical practices, and accuracy, so your community remains protected.

Choosing a reserve study company with local knowledge ensures they understand:

• Regional regulations and funding requirements.
• Local construction costs and inflation rates.
• Environmental factors that could impact your community’s assets.

At United Financial Solutions, our team’s deep understanding of local conditions ensures tailored recommendations and accurate projections.

Outline the key qualities your HOA needs in a reserve study company. Include expertise, services offered, transparency, and local knowledge.

Don’t settle for the first firm you find. Reach out to multiple companies, ask detailed questions, and compare their proposals to determine the best fit.

Even highly rated companies should be vetted. Ask for references you can contact directly to get honest feedback from other HOAs.

At United Financial Solutions, we combine technical expertise with financial acumen to deliver reserve studies that empower HOAs to make informed decisions. With a focus on accuracy, transparency, and proactive planning, we help communities maintain financial stability and avoid costly surprises.

Ready to get started? Contact us today to schedule a consultation and learn how we can help secure your HOA’s financial future.