IBI performs Reserve Studies and develops Maintenance Manuals detailing how to budget and properly maintain all major common components on your structures.
A Reserve Study is a financial budgeting plan for future repair and replacement of major common components on a structure or complex. Annually updated Reserve Studies are required by law for Condominiums and HOAs.
There are three different types of Reserve Studies:
– LEVEL 1: This is an initial, full Reserve Study including an on-site visit, component inventory and a condition assessment. At this point, we determine how much ‘life’ is left in each of the components, from which we create a funding plan. A Level 1 Reserve Study is required before the Level 2 or 3 can be created.
– LEVEL 2: A Level 2 Reserve Study is an update to the Level 1 Reserve Study, scheduled every three years. We perform an on-site visit to document and ensure your components are wearing and aging as expected.
– LEVEL 3: A Level 3 Reserve Study is an update to the Level 1 and Level 2 studies, without the site-visit. This is a low cost way to update your reserve study by conducting life and valuation estimates to determine status and a funding plan.
Knowing how to maintain your building is critical to maximizing it’s value and longevity. IBI develops building-specific Operation & Maintenance Manuals detailing how to use and properly maintain all major components on the structure. These straightforward and easy-to-follow manuals give you a powerful tool to help you maintain and extend the life of your building.