WHAT NOW IF I HAVE A RESERVE STUDY?

By Rafael Aquino

Published June 22, 2022  

 

Reserve studies are an essential tool every association should have. I've written about its importance many times on this blog and how the tool helps Board Members understand the current and future of the association's financial needs/repairs. Recent changes to the law require those associations with buildings of three stories or higher to complete a "Structural Integrity Reserve" by December 31st, 2024. Additionally, these reports must be done every ten years.

 

Many associations and managers are still trying to figure out who can complete these reports and what happens if my association already has a reserve study? While the law clearly states that a licensed engineer or architect completes the structural integrity reserve portion, the question is more about what vendor can do this work? Our industry has several trusted Reserve Specialist experts; however, some specialists don't have engineers or architects on staff. Suppose your association already has a reserve study completed. In that case, I recommend contacting the organization that conducted the reserve study and asking them what steps they are taking to fill the needs of the new law.

 

If your association has never completed a reserve study, I would recommend you do the structural integrity reserve and the additional components together.  The most critical ticket items will likely be highlighted in the structural integrity reserve portion; however, it is better to understand the entire cost and what things your board should be reserving for.  The sooner you can complete this, the better you will be prepared to move on to the next step.

 

Next week I will blog on the next step once you've completed your reserve study.

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As the Co-Founder and CEO of Affinity Management Services, Rafael P. Aquino leads his team to redefine excellence. They serve community   associations   efficiently

and effectively with dedication and passion. Rafael’s energy and positive spirit is the foundation of Affinity Management Services’ company culture, which instills enthusiasm and excitement when providing expert advice to its board members and relieving the day-to-day burdens of running a community association.

 

Since 2007, Rafael has developed a work culture that values responsive and high-quality services. He has led his team by following a proactive vs reactive philosophy. The same approach Rafael instills in the day to day operations of each association. Today, Affinity Management Services maintains its success and benefits as a result of the foundation Rafael has built and continues to foster by providing educational seminars, continuing education classes for association managers and board members alike.


Rafael and his team help condominium and homeowners’ associations save money and improve their communities. His calm, personable, and service-oriented nature helps him to establish strong relationships with ease. Rafael is known as a sincere and honest leader who looks out for the best interests of his clients and communities, and he strongly advocates for their needs. His role requires coordination and communication, as such he takes logical and intelligent steps to approach challenges head-on.


As a graduate of Florida International University’s electrical engineering program and a licensed community association manager, Rafael’s education and skills equip him with unique insights to tackle complex problems through critical thinking. He understands how each component within a system works together in order to effectively arrive at solutions, techniques, and conclusions. Therefore, as he manages the multiple challenges of running a community association management company, he understands how each property is its own unique system and tailors’ specific services to assure that all their needs are met.

For more information about Rafael P. Aquino and Affinity Management Services please visit www.ManagedByAffinity.com or call 1-800-977-6279

Doral Office: 8200 NW 41st ST

Suite 200

Doral, FL 33166

Broward Office: 150 S Pine Island RD Suite 300

Plantation, FL 33324

O: 800-977-6279 ● F: 305-325-4053

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