Question 1

What is a reserve study?

Accepted Answer

A reserve study is a financial planning document that evaluates an HOA's common area components (roofs, elevators, parking lots, etc.) and determines whether the association is saving enough money to repair or replace them. It's essential for understanding your future costs as a homeowner.

Question 2

What's the difference between a SIRS report and a regular reserve study?

Accepted Answer

A SIRS (Structural Integrity Reserve Study) is required by Florida law (SB 4-D) for condos 3+ stories. Unlike regular reserve studies, SIRS reports must include structural components like load-bearing walls, foundations, and waterproofing — and associations cannot waive funding for these items.

Question 3

What percent funded is healthy?

Accepted Answer

Generally, 70%+ funded is considered healthy, 30-70% is fair, and below 30% is at risk for special assessments. However, percent funded alone doesn't tell the full story — our analysis also looks at funding methodology, contribution trends, and component conditions for a complete picture.

Question 4

Will reserve study findings affect my mortgage?

Accepted Answer

Yes. Fannie Mae, Freddie Mac, and FHA have reserve requirements that can affect loan approval. Our analysis flags lending red flags like underfunded reserves, deferred maintenance, and litigation that lenders look for during the condo questionnaire process.

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