Though we here at Association Reserves, Inc. introduced the concept of the DIY Reserve Study several years ago, DIYReserveStudy.com launched this year and is just now finally popularizing this low-cost, effective Reserve Study solution.
Since launching, we have received a significant number of inquiries about the DIY Reserve Study Kit. Today, I want to address some of the most common questions people have been asking.
1. How does the Kit work?
The process is rather simple. After you purchase the kit, you build your association’s Component List using the instructional materials we provide. Once complete, submit the information to us & receive your report within just 1 week. This is the fastest turnaround in the industry.
2. Can the Kit be used to create a Reserve Study from Scratch?
Yes! The Kit is a great solution for associations who have previously been unable to afford to hire a full-service Reserve Study provider. The
Free Instruction Booklet details how to build your association’s Component List from scratch, in accordance with National Reserve Study Standards.
3. Who will process my information, and create the Reserve Study report?
DIYReserveStudy.com is an Association Reserves company, and shares the same staff of over 21 certified Reserve Study Specialists. After receiving your association’s information, your report will be assigned to one of our skilled Project Managers. They will work with your data you provide to craft the Reserve Study report.
4. How does the Kit differ from an Update No-Site-Visit Reserve Study?
The primary differences between the DIY Reserve Study Kit and an Update No-Site-Visit Reserve Study are: 1) Who updates the Component List & 2) Price ($499 vs. $500+). Additionally, certain Reserve Study providers such as Associations Reserves, offer 1 free revision to the report at the No-Site-Visit service level. For more information, check out our detailed comparison table.
5. Shouldn’t we instead hire a professional to craft our Component List?
Perhaps. The answer depends on your association, its complexity, the opinions of the board members and your confidence in constructing a Component List.
Simple associations with only a few common area assets often do not need a professional’s help. Large, complex associations with an on-site staff who meticulously inspect & track the condition of common area assets, are also unlikely to need a Reserve professional to inspect & draft another inventory of the assets.
If you think your association may need the help of professionals,
Request a Proposal from Association Reserves now!
