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Supporting and enabling Community Managers to plan, and serve their members, through a scientific understanding of their reserve and maintenance planning requirements.
RESERVE STUDIES & MAINTENANCE PLANS
RESERVE STUDIES & MAINTENANCE PLANS
A Reserve Study and a Maintenance Plan is a budget planning tool which identifies the current status of a community’s Reserve and Maintenance Fund and insuring it has a stable and equitable Funding Plan to offset the anticipated future maintenance and replacement expenditures.
One of the primary responsibilities of any community’s Board of Directors or Trustees is to protect, maintain, and improve the community's infrastructure. Boards and Trustees must plan many years in advance to accomplish this objective, ideally without reliance on additional funding like special levies or loans.
One of the goals of a Reserve Study and a Maintenance Plan is to give Community Management a tool to prepare and manage the maintenance, repair and replacement of their communities’ common elements.
A Reserve Study and a Maintenance Plan are the art and science of anticipating, and preparing for, a community's maintenance, repair and replacement expenses. Partially art, because projections are made about the future, but also a science, because the base of the projections, assumptions and associated calculations are extensively researched and well defined.
BENEFITS OF A RESERVE STUDY AND A MAINTENANCE PLAN
BENEFITS OF A RESERVE STUDY AND A MAINTENANCE PLAN
1)
Reduce the chance of special levies for unforeseen expenditure.
2)
Understand the expenditure requirements to optimize member contributions.
3)
Provides a plan to proactively execute infrastructure maintenance and new projects.
4)
The effective management of the community's common property.
SERVICES
SERVICES
Reserve Study Services and Maintenance Plans are offered to Community Managers, based on the NRSS (National Reserve Study Standards) from the USA. Typical Communities include Residential Estates (HOA's and BC's) Golf Clubs, Schools and more.
SmartReserves has been involved with and successfully completed reserve studies for various Communities, including Pecanwood Estate, Schonenberg Estate, Cornwall Hill Estate, Randburg High School, The Coves, Xandu and more. SmartReserves also works very closely with Rob Felix, a Reserve Specialist based in Boise, Idaho, USA.
Various Tools & Systems are used for the Reserve Study and Funding Plan. A system that has been used for some of the recent studies is the IROMS system from CORE (The Centre for Reserve Excellence), a well-known Reserve Management System in the South African Residential Community Market.
Reserve Study Service Profile.pdfSmartReserves Services Profile:
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The following components are typically included in a Reserve Study or Maintenance Plan:
Data Collection | Component List Compilation | Reserve Fund Strength Analysis | Capital Improvements (Projects) | Funding Plan | Plan Maintenance
In association with SmartReserves
In association with SmartReserves
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