Provides Professional Reserve Study Services.
Frequently Asked Questions
Here are some questions we usually get about Reserve Studies.
What is a Reserve Study?
How is a reserve study calculated?
Why do we need a reserve study?
- Helps the board fulfill its fiduciary responsibility
- Fulfill statutory requirements
- Guarantee the reserves are based on up to date information
- Buyers finding lack of reserves back out of real estate purchases
- Lenders finding lack of reserves may not lend money
- Satisfy the community’s governing documents
- The costs of maintaining the property will be fairly shared by all owners
- The reserve study provides a predictable replacement schedule
- A healthy reserve fund protects your investment
- Increases marketability
- Adequate reserves help avoid special assessments which are both unfair and difficult to collect
- The American Institute of Certified Public Accountants (AICPA)) requires the community association to disclose its reserve funds in its financial statements
Our happy clients
Why do people love us?
“I have worked with Paul many times in my field of community association management. Specifically, I have called upon him for preparation of reserve studies to help me to determine the value of the assets for each of my communities. Also included in the reserve study is the estimated useful life, estimated replacement cost and current condition of these assets. With this information I am able to determine what to budget for future capital improvements for my customers. Paul’s expertise can’t be beat!
Cynthia Paul (Montsinger) Morales, LCAM, CMCA, AMS
“As a CPA, I suggest having a professional reserve study to all my Association clients. Custom Reserves offers funding plans tailored to any community. Working with Paul in Brevard county has been a pleasure and I am sure he can meet your reserve study needs.”
Bernie Mapili Jr.
“Custom Reserves offers knowledgeable and responsive services to its clientele and its staff has a clear understanding of Community Association needs for reserve studies and insurance replacement cost valuations. I highly recommend Custom Reserves for their expertise and sound counsel.”
“I have worked with Paul to provide Reserve studies to multiple Associations. His product is excellent, including easy to understand spreadsheets for the Board. Paul’s willingness to attend multiple Board meetings and his ability to expertly answer questions make him stand out in the industry. I highly recommend Custom Reserves and Paul Grifoni.”