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Snap Survey: Reserve Study & Funding Trends (for Reserve Study Providers)
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1.
In which state is your company headquartered or primarily operating from?
2.
What types of communities do you primarily work with? (Select all that apply)
High-rise condominiums
Garden-style condominiums
Homeowner associations
Large-scale communities
55+ / Age-restricted
Mixed-use developments
Non-common interest development/community association (commercial property)
Other (please specify)
3.
On average, how often are your clients updating their reserve studies?
Level II (Update with site visit):
Every 1-2 years
Every 3-5 years
Every 6+ years
None
Varies by state
Not sure
4.
On average, how often are your clients updating their reserve studies?
Level III (Update without site visit):
Annually
Every 2 years
Less frequently
Never
Not sure
5.
What new tools or technologies are you using or seeing in the reserve study industry? (Select all that apply)
Reserve study software with online dashboards
Mobile inspection tools (e.g., tablets, apps, data capture platforms)
Drone technology or 3D imaging for inspections
Use of AI for data analysis or report generation
Ability to provide clients with editable files or interactive reports
Infrared scanning or moisture detection tools
Other (please specify)
6.
What external factors are influencing component selection or reserve study methodology? (Select all that apply)
Increased demand for energy-efficient or sustainable upgrades
Insurance requirements (e.g., roof replacements, structural conditions)
Lending standards from Fannie Mae, Freddie Mac, or HUD
State or local regulatory changes (e.g., structural integrity mandates)
Environmental factors (e.g., wildfire risk, flood zones)
Aging infrastructure in older communities
Other (please specify)
7.
In what areas are you seeing litigation or potential for litigation related to your reserve studies? (Select all that apply)
Disputes over component inclusion or exclusion
Challenges to the accuracy of cost estimates or useful life assumptions
Board decisions to override or ignore reserve study recommendations
Delayed or insufficient funding leading to deferred maintenance or special assessments
Failure to meet statutory or lending requirements (e.g., Fannie/Freddie, state law)
Structural or life-safety issues that were overlooked or underfunded
Conflicts over developer-prepared reserve studies (during or after transition)
Lack of proper disclosures or disclaimers in reserve reports
None observed
Other (please specify)
8.
When evaluating cost estimates for reserve components, which source do you rely on most?
National cost data
Local contractor/vendor estimates
Proprietary database
Client cost history
A combination of all
Other (please specify)
9.
How do you handle future capital projects (e.g., constructing a new clubhouse or adding new amenities)? (These are items that did not previously exist.)
Include in the reserve study as a planned capital project
Address separately from the reserve study (e.g., in capital improvement planning)
Only include if final design and budget are confirmed
We do not include first-time capital additions in the reserve study
Other (please specify)
10.
How do you handle upgrades or renovations to existing reserve components (e.g., replacing a mechanical system with upgraded materials)? (These are enhancements to items already in the component inventory.)
Proactively include upgraded/replacement scope and reflect in the reserve study
Include only if the cost difference is minimal
Treat as a capital improvement outside of reserve funding
Only include when requested by the client
Other (please specify)
11.
How do you approach long-life components (e.g., foundations, major structural framing) in your reserve studies? (Select all that apply.)
Always include funding for long-life components in the study
Include only if the client requests it
Include only if they are anticipated to need replacement within the projection window
Include the expenditure for informational purposes only (no funding)
Do not include unless required by statute or regulation
Other (please specify)
12.
Do clients suggest changes to draft studies solely to reduce reserve funding?
Yes, frequently
Sometimes
Rarely
Never
13.
If you disagree with a client’s suggested change, do you
Make the change without comment
Make the change with a written disclosure
Refuse to make the change
It depends on the situation (critical or non-critical repair)
14.
In your opinion, do most clients fully understand the importance of an accurate reserve study?
Yes
Somewhat
No
15.
What is the biggest pushback or concern you hear from clients about reserve studies? (Select up to two).
The recommended reserve contributions are too high
The study includes too many components
They don't believe the reserve funding is necessary
It’s difficult to explain the results to homeowners
The process takes too long or is too complex
The funding plan includes future increases that concern the board
Lack of trust in cost estimates or useful life assumptions
Concern that conducting a study will create a liability if they don’t follow it
Other (please specify)
16.
Which of the following would help improve reserve study best practices across the industry? (Select all that apply)
More consistent state laws or regulations
Clearer communication templates for boards and residents
Improved access to local cost data
Standardized component lists or guidance
Increased education for boards and managers
Stronger ethical guidelines for providers
Better integration with budgeting software
Other (please specify)
17.
Do you have any additional comments or suggestions related to reserve studies or best practices? (Optional open-ended response)
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