Reserve Studies and Reserve Study Specialists
As an HOA Lending Pro, I appreciate the value provided by a professional Reserve Specialist. Somewhere between the language of the technical engineer and the statistical accountant lie the vocabulary and the importance of the Reserve Study. It is a valuable tool to both borrower and lender as it can clearly describe a community’s current and future maintenance projects as well as its fiscal viability. A professional Reserve Study can also strengthen both the borrower’s and the lender’s position during the HOA lending process.
The Community Association Institute awards RS designation to qualified reserve specialists who, through years of specialized experience, can help ensure that community associations prepare their reserve budget as accurately as possible.
RS designees must meet comprehensive requirements including:
- Preparing at least 30 reserve studies within the past three calendar years
- Holding a bachelors degree in construction management, architecture, or engineering (or equivalent experience and education)
- Complying with strict rules of conduct outlined by the Professional Reserve Specialist Code of Ethics
The HOA Lending Pro prefers to work with professional Reserve Study Specialists. I have had the opportunity to work with many of these firms and I am confident that they can help you. You can find a complete and updated list at the CAI website by following this link and searching for Designation “RS” from the search menu.
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