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Reserve Studies + Depreciation Reports
With a depreciation report/reserve study in hand, you'll be prepared for what’s coming, and you and your strata will have fewer surprises.
What is a reserve study/depreciation report, and why do I need one?
A reserve study (or depreciation report in British Columbia) is a long-range financial planning tool, designed to identify funding requirements for costs associated with future building repairs and maintenance. Some jurisdictions require a maintenance plan in conjunction with a study/report (Report) that is a natural extension to a Report.
Diligent strata corporations or Homeowners Associations (HOA’s) obtain a Report to demonstrate their commitment to proactive maintenance, planning, and transparency. Potential buyers can evaluate how well different strata corporations or HOA’s are preparing for future expenses, and your condominium community can stand out with a comprehensive Report combined with a clearly defined funding strategy.
Your Report should be updated on a regular basis (3 years in BC, annually in Washington / Oregon) to determine whether your assets are performing as expected and to reevaluate your current funding model for future maintenance and renewals.
While your Report identifies likely maintenance, renewals, and timing, owners remain in control of understanding the risks and making informed decisions. Our team at RDH can guide you in making the right ones.
David Albrice answers the question “What is a reserve study/depreciation report?” and how it can help inform your strata in this 4-minute video.
What others are saying about our RS/DR services
“I have had the opportunity to review, in depth, 4 strata Depreciation Reports. In quick, simple terms, the report completed by RDH Building Science Inc. was, in my opinion, far and away the better of the four; in many ways. Several things impressed me with the report done by RDH. Layout, detail and thoroughness are superb. Even if I were not experienced with building systems and design, I would still have read your report with ease. I believe even those with a limited knowledge of such things would have little difficulty understanding the RDH report.”
Prospective Real Estate Investor, Vancouver, BC
“I really like the Reserve Contribution Increase feature and your suggestion to have the owners vote on the funding model. It is a real bonus for us as a strata. I just want to reiterate how thankful I am that the BAMS development team added cost sharing ratios to the funding model. It really made the discussion of funding models so much easier. Thanks so much for all your help with this.”
Council Member, Jardine’s Lookout, Vancouver, BC