Reserve Study Service Levels

Several years ago, several industry practitioners worked with the Community Associations Institute, and later the Association of Professional Reserve Analysts to develop common terminology for the three major categories of reserve studies. The purpose was to reduce confusion among the various stakeholders so all of our respective clients would find it easier to develop reserve study RFPs (Request for Proposal).

FULL: An onsite Reserve Study inspection where the following tasks are completed:

• Components inventoried and quantified.
• Component condition evaluations based on onsite visual inspection.
• Component life and valuation estimates.
• Fund status analysis.
• Funding plan recommendation.
• Statutory disclosures (where applicable).

This level of service is for the first time BRG will travel to the project and perform a complete reserve study. To have BRG bid this reserve study, please click on the Request a Study Link.

UPDATE WITH SITE VISIT: An onsite Reserve Study inspection where the following tasks are completed:

• Component inventory verified only without quantification.
• Component condition evaluations based on onsite visual inspection.
• Component life and valuation estimates.
• Fund status analysis.
• Funding plan recommendation.
• Statutory disclosures (where applicable).

This level of service is appropriate for the second and subsequent reserve studies where a site visit is required. Existing clients need only give BRG a quick telephone call or email to have us provide a bid. No form is needed if BRG has performed a prior reserve study for the project.

UPDATE WITHOUT SITE VISIT: A non onsite Reserve Study where the following tasks are completed:

• Component life and valuation estimates.
• Fund status analysis.
• Funding plan recommendation.
• Statutory disclosures (where applicable).

This level of service is for the off year reserve study updates when no site visit is required. Simply click on the Update Without Site Visit link for the appropriate form.

UPDATE WITHOUT SITE VISIT; NEVER ONSITE (NOS): The same study as directly above, but BRG has never been to the project, thus the “NOS,” a BRG term.

• Component inventory from client provided data.
• Component life and valuation estimates.
• Fund status analysis.
• Funding plan recommendation.
• Statutory disclosures (where applicable).

This level of study is appropriate when the site visit study is not needed, but the client wishes BRG to update an existing reserve study for budget and/or statutory disclosure purposes. For this level of service reserve study, BRG will need the prior reserve study and the Update Without Site Visit form executed and returned to BRG.