1. Full – Most of the time this option is for associations that are having their first study performed or for associations that are not confident about the accuracy of their previous reserve study. Service descriptions include the development of component inventory, condition assessments, life and valuation estimates, funding status statement along with a recommended Funding Plan. 

2. Update With-Site-Visit – Less time intensive than a Full Study and typically done every 3 to 5 years to document changes to Component List. Your company of choice will verify component inventory, condition assessment, provide life and valuation estimates, funding status and re-assess the Funding Plan. 

3. Update No-Site-Visit- This option is based solely on information collected from the board, management company, maintenance staff or vendors from previous Reserve Studies. This option usually includes, life and valuation estimates, funding status statement and develops a recommended Funding Plan. 

1. Component Funding – A complex funding method, that requires significantly more time and understanding than the Cash Flow method. Within Component Funding, it requires the board to save for each “component” separately. Think of it as an “envelope system” for a Reserve Fund/savings account. 

Components typically are: 

• Association responsibilities
• Limited useful life expediencies 
• Predictable remaining useful life expediencies 
• Above minimum threshold cost (as required by local codes) 

2. Cash Flow or “Pooled” Method – is more flexible and most used in the industry today. “Components” are not segregated, so it requires less time and accounting than the Component Method. This method simply means, assessments are budgeted into a “pool” reserve account for each year. The only downfall is, there is a slightly higher risk for reliance on special assessments.