5 Things Your Reserve Preparer Needs for a Reliable HOA Reserve Study
Maintaining your community’s financial health isn’t just about collecting dues - it’s about planning ahead. In today’s world of rising costs and aging infrastructure, a solid, well-informed reserve study is one of the smartest investments an HOA can make.
But here’s the thing: a reserve study is only as strong as the information you provide.
If your preparer doesn’t have the full picture, your community could end up underfunded or unprepared for the future. Here’s what every HOA board and manager needs to give their reserve preparer to ensure accurate, actionable results.
1. A Complete List of Common Area Components
Think of this as the blueprint of your community.
Your reserve preparer needs a current, detailed inventory of all common area components that the association is responsible for maintaining - everything from roofing systems to pool equipment.
Be sure to include:
✔️ Age and installation date
✔️ Materials used
✔️ Expected lifespan
✔️ Any repairs or upgrades completed
The more precise you are here, the more tailored your reserve study will be to your actual needs.
2. Past Reserve Studies & Maintenance Records
Your community’s maintenance history tells a story.
Sharing previous reserve studies, repair logs, and historical maintenance records helps your preparer track patterns, spot red flags, and fine-tune future projections.
For example, if a component has consistently needed repairs earlier than expected, your preparer can adjust its projected lifespan accordingly. Likewise, if previous funding recommendations weren’t followed, that can impact the current study’s assumptions.
This kind of historical insight allows your reserve preparer to base projections on real-world performance, not just textbook estimates.
It also helps avoid costly surprises by identifying trends that might otherwise be missed. This context can make a big difference in how accurate and useful the final funding model turns out to be.
3. Recent Bids or Invoices for Major Projects
Have you gotten bids for an upcoming roof replacement or recently paid for pavement resurfacing? Don’t keep those numbers to yourself!
Real-time market pricing is one of the best tools your reserve preparer can use to adjust projections and reflect the true cost of doing work in your region - especially in high-cost markets like California or Colorado.
Costs can fluctuate significantly due to inflation, labor shortages, or material availability, so up-to-date figures are far more reliable than national averages or outdated estimates.
Even if a project isn’t scheduled for another year or two, current bids provide valuable insight into market trends. Providing this kind of pricing intel ensures your study reflects reality, not just best guesses.
Ultimately, this helps prevent budget shortfalls and supports more accurate long-term planning.
4. Current Financial Statements & Reserve Balances
To build a realistic and sustainable funding plan, your reserve preparer needs to understand your current financial picture.
Be sure to provide:
✔️ Reserve fund balance
✔️ Monthly reserve contributions
✔️ Any anticipated special assessments
This data lays the groundwork for smarter planning and helps avoid funding shortfalls later on. It also gives your preparer a clear sense of whether your current contribution levels are keeping pace with future expenses.
When this financial snapshot is paired with asset condition data and real-world costs, your reserve study becomes a much more powerful decision-making tool!
Even small financial details can influence how aggressively, or conservatively, your study recommends funding.
5. Any Known Issues or Upcoming Projects
Transparency is key. If your community is aware of structural issues, fast-degrading components, or major projects on the horizon, share that information.
Your insight adds real-world context that enhances the accuracy of the reserve study.
Reserve preparers rely heavily on data, but boots-on-the-ground knowledge from Boards and managers fills in the gaps that spreadsheets can’t always catch.
Things like persistent leaks, drainage problems, or recurring repairs can signal larger issues that need to be factored into funding timelines.
The more your preparer knows, the better they can tailor the study to your community’s unique needs!
The Bottom Line
A reserve study is more than a regulatory requirement, it’s a vital planning tool - but its effectiveness depends on the quality of the information behind it.
By equipping your reserve preparer with the right materials, you set your community up for smarter budgeting, fewer surprises, and long-term financial health!
💬 Want to make sure your next reserve study hits the mark? Contact our team today to learn how RowCal can help.