Today most community associations and property managers are familiar with what a Reserve Study is and the crucial role it plays in the future of the association. There also exists a study that is not as well known, but is decidedly just as important in shaping the repair and replacement schedule of an association, the Transition Study.

A Reserve Study is the physical and financial analysis of all common elements that the board is responsible for maintaining. It details a repair and replacement schedule over the next thirty years. A Transition Study is an independent analysis of the common elements to identify the estimated cost to remediate condition, construction and design defects. A Reserve Study determines remaining useful life due to normal wear and tear and a Transition Study identifies only defects relating to condition, construction or design...

(Members can read the entire articles in their copies of "The Reporter". Join UCOM now go to: Membership Information.)