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Long Term Benefits Of A Reserve Study NJ

Community associations in New Jersey have three functions, which include serving as a government, business, and as a group of people in general. Even though they function like non-profit organizations, they also operate as businesses that have revenues.

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Things To Keep In Mind When Planning Your New Jersey Reserve Study

A New Jersey reserve study is very important for a homeowners association. It analyzes repair as well as replacement needs such as painting and roofing that happen non-annually. It also provides a funding plan that is used for accumulating the money that is required to do the repairs in future. It serves more of a budgeting function as opposed to a building analysis, even though it has an element of that. It is based on the assumption that a regular and adequate maintenance is being done on a building so as to prevent any premature or costly repairs or replacements in the future.

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Tips On How An NJ Reserve Study Is Conducted

An NJ reserve study is a very important tool for community associations. It is used for planning for long term repair as well as replacement needs of the common area elements. Many community associations use it to forecast funding needs for repairs, replacements and capital improvements that they intend to do in future.

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203 views • 8 slides

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Common area elements - PowerPoint PPT Presentation

Long Term Benefits Of A Reserve Study NJ

Things To Keep In Mind When Planning Your New Jersey Reserve Study

Tips On How An NJ Reserve Study Is Conducted