Did you know that poor budgeting may lead to higher monthly assessments, underfunded reserves, and lack of clarity into the financial condition of your property?
The DIY Reserve Study application empowers enterprising Board members and Managers to cost-effectively create their own Reserve Studies.
This application can be used to create a Reserve Study for the first time or to update an existing Reserve Study. For most organizations, updates to an existing reserve study are generally much easier to perform as the reserve component inventory is typically unchanged.
The DIY Reserve application was developed as an application for HOAs and community association leaders to perform the analysis, develop sound funding plans and generate disclosure notes which are required by law in several states.
- Advanced logic: Model one time expenditures, deferred components, loans and special assessments
- Component Input: Upload the component list from Excel using our template
- Scenario modeling: Run up to five different scenarios
- PDF generator: Generate reports and mandatory disclosures specific to your state's regulations
- Three funding models: Compare Current, Full Funding and Threshold funding cash flow models
- Expenditure schedules: 30 year expenditure projections including impact of inflation
- Percent funded: Calculate current percent funded as well as projected percent funded for each of the funding models
- Fixed and Variable Assessments: Change assessment amounts based on ratio of ownership interest or unit size
Why choose DIY Reserve application:
Make updates throughout the year instead of spending many hours updating once a year.
Allow us to import your component list at no additional cost
- Built by experienced professionals who are PRA's