The primary purpose of a Reserve Study is to offer recommendations as to the amount of money a community, building or other organization should set aside on a yearly basis for the future replacement or major refurbishment of their commonly owned elements.
The Falcon Group believes that a properly funded capital reserve program is the right formula for keeping a community’s physical assets in prime condition while providing some key benefits to residents. We strongly recommend updating your Capital Reserve Study every 5 years.
A regularly updated Reserve Study can provide the following benefits:
The Falcon Group has prepared over 2,500 Capital Reserve Studies. Each Capital Reserve Study we perform is a customized analysis, prepared in coordination with our Reserve Specialist (RS) and our client, and is based on a “real-world” methodology for each item in regards to:
Our staff includes five licensed Reserve Specialists (RS). The CAI’s Reserve Specialist designation is awarded to experienced, qualified professionals who help condominium, cooperative and homeowner associations plan for the long-term repair and replacement of major components.
"On behalf of the Condominium Association, I acknowledge receipt of your fine report and extend our thanks for the thoroughness with which you analyzed our facility and its likely future needs. Your report has been the basis on which we have made our cash flow projections for the next five years and our estimates of the stability and growth of our reserve fund. We appreciate your efforts on our behalf and hope that we will be able to utilize and rely upon your expertise in the future." Finance Committee
"Since 2004, Our Condominium Association has retained the services of Falcon Engineering to conduct Capital Reserve Studies for the Association and structure and evaluate its Capital Reserve Account and Capital Reserve Analysis. In 2008, Falcon was additionally asked to manage and oversee a major repaving contract for the roadways of the community. Dave Chesky, Regional Vice President, was responsible for the technical and administrative oversight of the pavement reconstruction on behalf of the Association. This oversight responsibility ranged from securing several competitive paving company bids to on site management and completion of the final punch list at the end of the project. The Board of Trustees was very pleased with the attention to detail, technical information and assistance that Falcon provided the Association, and would recommend them in this capacity without hesitation." Board President