Comments on: What is a Condo Reserve Study?

By: Ben Kakimoto

Ben Kakimoto — Fri, 05 Dec 2008 18:33:59 +0000

I am closing comments for this thread as there has been numerous negative comments against both BEDIC and HOA Services Group. Keep in mind, IP Addresses are logged and it’s not difficult to determine who’s making the comments.

For information regarding condo reserve studies, please visit the Community Associations Institute website. For Washington, you can find a list of vendors here:
http://www.wscai.org/Reserve-Studies~17405~294.htm

By: Carson

Carson — Fri, 05 Dec 2008 13:30:21 +0000

I would have to say that the comments posted above (9/24(08) by “Bruce”, concerning HOA Services Group are suspect at best and disingenuous worst. As a senior partner in HOA Services Group I have supervised every reserve study ever performed by our company since its inception, and I did not see one homeowners association listed on the BEDIC website on their list of clients which has ever been a client of HOA Services Group.

Perhaps “Bruce is simply mistaken and has our company mixed up with someone else or perhaps his comments are not sincere and are deliberately intended to mislead readers for some reason known only to “Bruce”. I would suspect that “Bruce” is either a figment of someone’s imagination or simply a misinformed individual who doesn’t actually know what he is talking about.

By: Jim

Jim — Thu, 04 Dec 2008 23:26:54 +0000

I just stumbled across this web site. After reading the above, I think it is inappropriate to compare reserve study providers with general comments. Every reserve study is unique, because every condo association and hoa is unique. I am familiar with most of the reserve providers in the pacific northwest and they all have their own way of doing things. Most important is whether the reserve study realistically speaks to the replacement needs of a community association and provides a realistic, workable funding plan for the association. You should look for a provider who has earned the “RS” (Reserve Specialist) certification from the Community Associations Institute, http://www.caionline.org . The provider should be familiar with construction of condos and how condo associations work, should make site visits, be easy to communicate with and be prompt with the completed study. The reserve study is critical to the preservation and maintenance of common property and the avoidance of a crisis with replacement items and a special assessment.

By: Carey

Carey — Mon, 06 Oct 2008 05:44:57 +0000

Thanks for the links.

I expect the cost to be prohibitive for our 2 unit Condo in Kirkland. I’ll check it out regardless.

The problem will be that in this real estate environment, not having one may literally make our units a tough sell.

By: Bruce

Bruce — Thu, 25 Sep 2008 00:52:25 +0000

Our site has used HOA Services Group in the past and this year had Building Enclosure Design & Inspection Corp do our reserve study. We found that BEDIC’s study was much more in depth and easier to navigate. I would highly recommend using their services to any HOA. HOA Services Group was pleasent to deal with and their product was ok but we will continue to use BEDIC for our community needs.

By: clara

clara — Tue, 16 Sep 2008 15:39:32 +0000

As we found out, you need to be very careful of reserve study companies who are willing to give you a proposal over the phone without doing a site visit. That is like a doctor making a diagnosis without seeing the patient. We got 4 proposals and HOA services group were the only ones that came to our complex to look. They were not the lowest proposal but were by far the most thorough.

By: Nora

Nora — Tue, 19 Aug 2008 21:04:42 +0000

Clare,

I used them too and everyone was amazed at the attention to detail they have in their reserve studies. They were great about explaining everything so you can understand & they even put in the things that need to be fixed now!!

By: Clara

Clara — Mon, 18 Aug 2008 20:00:40 +0000

The best Reserve Study company I have come across was HOA Services Group, they did ours and were very professional and timely. If you need their info let me know, I have their card here somewhere.

By: Joyce Vanderpol

Joyce Vanderpol — Wed, 13 Aug 2008 22:34:46 +0000

I am the President of a 12-unit condo complex in Blaine, WA, and would like to obtain the
names, fone numers of reserve specialists in Bellingham or the closest thereto.

Thanx.

By: Jeff Pajor

Jeff Pajor — Sun, 29 Jun 2008 01:01:50 +0000

Are there any special qualifications to be a “reserve study specialist?” How can I be sure that a study meets state and lender requirements?