Consult utilizes real world construction pricing and estimates instead of price book guides which are often inaccurate.
We have provided Reserve Studies for Condominium Associations, Homeowner Associations, and even churches. In Florida, Community Associations are required to reserve for Roofing, Paving, Painting, and any deferred maintenance cost over $10,000.
We often see that many Reserve Studies conducted by others fail to account for one of the most expensive reserve items a Condominium will ever experience... Building Restoration. As a consulting firm that specializes in designing, bidding, and managing restoration projects, we are uniquely positioned to prepare appropriate cost and useful life estimates for these line items. It also makes good business sense to reserve for restoration because it is a recurring necessity, especially for properties located on or near bodies of salt water.
Whenever we can use past project costs to prepare deferred maintenance estimates for Reserve Studies we will. But in some cases, we do not have recent project values to use. In those situations we investigate and call the contractors that maintain the asset or call other contractors as necessary to obtain real world estimates. This extra work sometimes means that an association spends a little bit more on their Reserve Study, but the added value pays for itself in the end.
All of our Reserve Studies also include a preliminary Building Evaluation where we note maintenance concerns and any observed life safety concerns.