Maxima Consultants Corporation takes great effort to provide clients with Reserve Study Reports that are very detail-oriented and written for both the experts that may need to reference the report and the layman that may be on the Board of Directors and needs to comprehend and easily understand the specifics detailed in the report.
Reserve study reports are prepared to assist clients with long-range physical and financial planning that focus on a typical 20-year timeframe (or up to 30 years) and generally include:
- Purpose and Format of Report
- Classification of Expenses
- Overview of Building(s)
- Long-Term Considerations
- Inflation and Interest Rates
- Required Steps to Perform the Required Repair/Replacement Work
- Acknowledgement of the Contents by Client, Property Manager, Building Engineer, and Agent
2. Exterior Elements
- Exterior Wall Examinations
- Exterior Wall Repairs
- Windows and Balcony Sliding Doors
- Exterior Paint Finishes
- Site Work
3. Interior Elements
- Vestibule, Main Lobby, and Mailbox Areas
- Residential Corridors
- Elevator Cab Interiors
- Stairwells and Service Areas
- Electrical Closets
- Reserve Bar Chart
Reserves are the amount of money set aside for future expenditures to fund repairs or replacements of the building's systems or components that have exceeded or will exceed their expected useful lives. Having reserve funds for future repairs or replacements of the building's systems components is one of the most reliable ways to protect the value of the property's infrastructure and marketability.
Maxima's careful inspection and financial analysis act as a roadmap to maintain the property's common elements. The report's goal is to keep the site in an operational and safe condition while optimizing the property value for the association and owners.
Maxima's technical staff have in-depth experience preparing a variety of reserve study reports.