Tools FOR success
Years of experience have taught many lessons to those of us in the condominium community, however, it is all too often the case that experience, strategies, systems, tools and wisdom may not be passed on from one volunteer to the next. The amount of work required to operate most condominiums is daunting and often exceeds the time and energy available from even the most capable volunteers and management companies.
Every condominium wants affordable, efficient, proven and repeatable processes. The tools on this page can help you get started! If you have questions, please ask!
Do your governing documents seem like confusing maze of responsibility with run-on sentences written for a legal scholar? You might want to consider a responsibility matrix like this one.
Predicting the future isn't easy, but this industry-standard reserve calculator with built-in smarts does most of the hard work for you!
CRITICAL QUESTIONS FOR EVERY RESERVE STUDY:
Are all the correct components identified and included? This requires understanding what your annual operating budget will resolve.
Are components with useful lives of 40 to 50+ years correctly calculated as part of the fully funded balance?
Are components properly categorized as CE vs. RLCE vs. CLCE, etc. as required by your governing documents?
Does every component reflect the correct useful life and remaining useful life?
Does every component reflect an accurate cost to maintain, repair or replace?
Are assumptions about component inflation costs and annual interest realistic?
N.B. This reserve calculator is not a replacement for hiring a reserve study vendor. | This tool requires Excel 2016+