The On-Site Analysis and Component Condition Assessment (CCA)

The reserve study on-site analysis and component condition assessment (CCA) is crucial to an accurate evaluation of the association's long-term capital repair and replacement budget. The reserve consultant must possess both industry knowledge and knowledge of maintenance of common area components to know what items should be included in the reserve analysis.  For small, simple associations, identifying and quantifying components is relatvely easy.  For larger, more complex associations, it is not simply a matter of quantifying the components, it is also a matter of knowing how to assemble the resulting data into meaningful reports.

We compile the component inventory by location, and that data is incorporated into the report.  There is rarely a question of whether or not specific components have been included in the study, because the reports disclose the location information, and can be summarized by location.  This makes it very easy to find components.

FAI consultants consider multiple sources in evaluating condition of components.  Obtaining information on dates components are placed in service and estimated useful lives is the first step.  Requesting information from you about both your operating and long-term maintenance plans is another very important factor.  Often, we will contact your maintenance providers to learn their assessment of certain components.  We also  inquire about warranties to assist us in assessing condition and expected remaining life of common area components.  Inquiring about your plans for major repair or replacement of somponents is the most important factor in determining the next service date for components.

We also routinely note maintenance issues which we include in the Reserve Study report. We try to alert you to any noted safetly while we are on site.  Other maintenace issues may simply be incorporated into the RS report.  These items often bring maintenance issues to the board's awareness for the first time. This is an added service that is provided at no cost.

As part of the RS report preparation process, we also consult with you on setting the appropriate level of detail of components for the reserve study, so that you can properly manage your common area components.