Quantity Surveyor Quantity Surveying, PQS, Cost planning, Expert witness report, Cost Monitors, cost montioring
USA - Reserve Fund Study (RFS)
A Reserve Fund Study is a requirement in California by state law (California Civil Code Sections 1365 and 1365.5) that a Condominium Board must prepare and distribute a pro forma operating budget with breakdowns for the obligations to repair, replace, restore, or maintain building components. This must be completed by state law at least every 3 years and is necessary to include a visual inspection.
QSSi has had the pleasure of working with numerous Condominium Boards and Property Managers across the United States of America. Our highly skilled and knowledgeable team allows for accurate and precise valuations of your assets that comply with California state laws and can be a useful tool to plan your future expenditure and maintenance work.
With a unique approach, our Reserve Fund Studies are the best in class, with a foundation in realistic and current project cost assessments, leveraged from all our ongoing projects as well as current industry standards.
WHAT IS A RESERVE FUND STUDY?
A reserve fund study is a requirement by law in most states, but its main purpose is to ensure that a reserve fund is maintained, to deal with scheduled replacement of the large-cost elements of building ownership over time. It is a working valuation of your asset and allows for an accurate projection of large, scheduled repair and replacement costs.
QSSi reserve fund studies are world-class, providing comprehensive facility condition audits and capital renewal analysis for buildings or groups of buildings.
Our Reserve Fund Studies are a collaborative, technologically advanced approach to the project, which we always complete expediently.
Reserve Fund Inspection
A highly skilled QSSi representative will carry out a detailed on-site inspection of the property to determine the age and condition of the various elements. We review all aspects of the property, such as roofing, HVAC, flooring, painting, siding, all other shared property spaces)
Reserve Fund Planning
Using the inspection data, QSSi assemble the overall reserve fund plan for the maintenance of the property, which is a collaborative effort with the board or their representatives. We also provide unit by unit breakdowns for funding purposes as needed.
Reserve Fund Report
Our report is structured simply and is easy to read - illustrating all of the findings from our inspection and the proposed maintenance issues. We produce a detailed 25 or 30 year plan, plus a year-by-year breakdown of the required and planned repair and replacementto be carried out.
CALIFORNIA . TEXAS . MONTANA
Contact us at (403) 970-6213 or by emailing info@qssi.ca.