Recommending stable reserve fund contributions
Are you putting your most valuable assets in the hands of the most qualified professionals? As a board member or trustee, you have fiduciary responsibilities which compel you to make decisions that can have profound financial and social impact on you and your neighbors.
To help ensure you have the expert guidance you need to manage your community’s long-term finances most effectively, you should look for professionals with the Reserve Specialist (RS) designation awarded by Community Associations Institute (CAI) and a Professional Reserve Analyst (PRA) designation awarded by the Association of Professional Reserve Analysts (APRA).
By meeting the requirements for experience and education by these two organizations in accordance with National Reserve Study Standards, Custom Reserves provides the knowledge, experience, and integrity to provide your association with expert services.
It takes a qualified professional to ensure the accuracy and precision of such a task. The RS designation is awarded to experienced, qualified reserve providers who, through years of specialized experience, can help ensure that your community association prepares its reserve budget as accurately as possible. RS designees must meet comprehensive requirements, including: preparing at least 30 reserve studies; holding a bachelor’s degree in construction management, architecture or engineering (or equivalent experience and education); and complying with strict rules of conduct outlined by CAI’s Professional Reserve Specialist Code of Ethics.
The accuracy of the data entered will directly relate to the usefulness and reliability of the reserve study in being a tool for the management of an association’s finances and physical properties. The factors which can greatly influence the quality of the reserve study must be based on realistic facts. Using unrealistic estimates of an asset’s age, condition, or replacement cost will leave an association financially unprepared for the inevitable replacement or major repair work that must be done at a future date.
Custom Reserve Studies are conducted by an individual with an Engineering degree along with Construction Management experience. If you are looking for a qualified reserve study professional to assist you with the long-term financial health of your association, you can be confident that Custom Reserve’s professional education, experience and commitment can provide you with the level of service you deserve.