For community association boards, the responsibility to protect, maintain, and enhance property assets is a primary duty. Achieving this objective requires a multi-year plan to anticipate and prepare for the timely repair and replacement of common area components. A Reserve Study accomplishes this by identifying the association’s responsibilities, evaluating the reserve fund’s status, and establishing […]
Category: Reserve Study
How Long Do Building Mechanical Systems Last?
Building mechanical systems are the heartbeat of any community, yet they don’t last forever. Eventually, every piece of equipment reaches a crossroads: it either fails or becomes a “money pit” that is too costly to maintain. When these systems fail unexpectedly, community boards face more than just hefty replacement bills; they face major operational disruptions […]
Is Your Building’s Heart Skipping a Beat? A Guide to Elevator Modernization
In any multi-story building, the elevator is more than just a convenience; it’s the heartbeat of the property. But as these systems age, that heartbeat can become irregular. Breakdowns happen more frequently, outages last longer, and technicians often find themselves playing a losing game of “find the obsolete part.” When it is no longer cost-effective […]
Is Your Community Ready for Winter?
Winter is coming, and it brings a unique set of challenges for community managers and boards. Extreme temperatures, heavy snowfall, and freezing rain stress practically every element of a community. Buildings, roads, sidewalks, stormwater systems, and utilities (both above and below grade) are all subject to winter-generated stress. Unless a community has taken the necessary […]
Why Bathymetric Studies Are Critical for Your Reserve Study
For most Community Associations, a pond is a scenic asset—a peaceful water feature that adds curb appeal and value to homes. However, for a Reserve Study specialist, a pond is something else entirely: a stormwater management system with a hidden, and potentially massive, future expense. While your landscaping crew mows the banks and treats the […]
Keeping Our Communities Safe and Clean: The Essential Role of Stormwater System Maintenance
Stormwater management systems are a crucial infrastructure, serving as your community’s first line of defense against erosion and flooding caused by runoff from impervious surfaces like roads and roofs. Beyond flood control, these systems are vital for environmental protection, helping to capture pollutants such as sediment, nutrients, heavy metals, gasoline, and oil before they reach […]
Essential Methods for Managing Stormwater Runoff 💧
Too much of a good thing, like rainfall in a short burst, can quickly turn into a headache for communities and the environment. Stormwater runoff, rushing across impervious surfaces like roofs and pavement, causes erosion, flooding, and picks up harmful pollutants like oil, heavy metals, and sediment. Fortunately, communities have a variety of effective options […]
Inflation and Your HOA: Understanding and Planning for Rising Costs
Inflation can be a confusing topic, especially when it comes to long-term financial planning for your homeowners’ association (HOA). A Reserve Study, which is a crucial tool for forecasting future maintenance and replacement costs, needs to account for inflation, but which rate should you use? And how do you apply it effectively? Let’s break it […]
Reserve Study Levels Explained
One of the most common questions we receive when discussing a proposal for a reserve study is about the various levels available. Some clients prefer a complete re-evaluation every time. While others question the necessity of an on-site visit for every study. At MillerDodson Associates, we adhere to the Community Association Institute (CAI) National Reserve […]
Welcome to the MillerDodson Blog: Your Go-To Resource for Reserve Study Insights!
Are you ready to dive into the world of reserve studies with a fresh perspective? Here at MillerDodson, we're thrilled to introduce our new blog section, designed to make understanding reserve studies not only informative but also engaging and easy to grasp. We believe that managing your community's future finances should be clear, concise, and [...]
Copyright © 2022 | Miller Dodson Associates, Inc. | All right reserved |