Understanding Reserves – A Comprehensive Guide on Reserves
WESTLAKE VILLAGE, CA, UNITED STATES, September 28, 2021 /EINPresswire.com/ — The nation’s leading Reserve Study provider, Association Reserves, has released a new book, Understanding Reserves. The comprehensive guide, available in bulk on www.reservestudy.com or individually on amazon.com, addresses every facet of Reserve Funding and answers common questions related to Reserve Studies.
“The collapse of Champlain Towers South, a 12-story condominium association in Surfside, FL, has reinforced the importance of advancing everyone’s understanding of Reserve Studies and the specific challenges facing older properties that are underfunded,” said Robert Nordlund, PE, RS, and Founder/CEO of Association Reserves.
“Industry professionals have long known that setting aside Reserve Funds over time is the simplest, fairest, most cost-effective, and responsible way for Association Governed Communities to plan for major repair & replacement projects. The prevailing myths — that keeping assessments low is an admirable goal and that reserve contributions are for some future ‘rainy day’ project that may or may not occur — has greatly undermined the financial & physical health of Association-governed Communities throughout the United States. The collapse of Champlain Towers South Condominium is an extreme & tragic consequence of just such thinking.”
Without adequate Reserves, associations face the unpleasant consequence of taking out costly loans, passing unfair special assessments that place the financial burden on current rather than former owners, or accepting a drop in home values due to deteriorating conditions, deferred maintenance, and reduced curb appeal.
Understanding Reserves, authored by Nordlund and Kevin Leonard, RS, President of the Association Reserves Inland Empire/Coachella Valley office, will quickly enhance the Reserve Funding knowledge of board members and community managers, as a first step towards improving the physical & financial health of their associations.
About Association Reserves
Each year, thousands of managers, board members, and facility directors trust Association Reserves to create their Reserve Funding plans. Established in 1986, Association Reserves has been instrumental in defining and advocating the National Reserve Study Standards endorsed by the Community Associations Institute (CAI).
As the nationwide leader in Reserve Study preparation and with 30 plus years in business, the firm has completed over 60,000 Reserve Studies for properties of all types, including condominium and homeowners associations, community development districts, timeshare and resort properties, commercial facilities, camps, retreat centers, schools, worship facilities, municipalities and more. Association Reserves has clients located in 12 different countries and all 50 United States.
Order the Understanding Reserves guide: https://www.reservestudy.com/understanding-reserves-book/
Paige Schauermann
Association Reserves
+1 800-733-1365
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