21
Oct 20

Our goal with reserve studies is to ensure you can maintain the property financially for years into the future. From financial planning to fiduciary duties and compliance, there’s an endless amount of reasons to complete reserve studies on a consistent basis.

10
Sep 20

Compliance remains on the top of our clients’ minds. How does compliance relate to my reserve study? What does compliance mean for my condo? Our team readily addresses questions such as these when working with reserve study firms, property owners, and board members.

 

For us, compliance means following all local and state guidelines with regards to condominiums, property owner’s associations and their interconnected relation to reserve studies. On a secondary level, but equally important, we follow all FHA and Fannie Mae lending standards. With all of these different goals and rules in mind, we perform reserve studies that are compliant with any of these laws and potential uses. 

 

So, what do all of these operating standards really mean for your property’s compliance?

 

Guidelines state that you must have 10 percent of your operating budget set aside for reserves or have a reserve study performed. This is absolutely critical for a buyer to get a loan in your condominium. Without liquidity or the ability to get underwritten, the property’s value significantly diminishes. 

 

Fannie Mae’s guidelines also suggest that in the absence of a reserve study, it is the lender’s responsibility to judge if the property’s reserves are adequate. So even without a reserve study, it’s imperative that a board member or representative provides the lender with information that is adequate to meet the rules. 

 

With Fannie Mae underwriting more than 90 percent of the loans in the country, the importance of a reserve study quickly becomes clear. 

 

If you have any questions about compliance, guidelines or laws, our team is happy to help!

08
Aug 20

As one of the nation’s leading partners in reserve studies, our process is an extremely important and special component for us. Reserve studies are often an overwhelming, daunting event for people and companies. But, through our process we make it a manageable, simplified task that provides everything our clients need to meet their goals. 

 

  • For us, it all starts with listening to you and really gaining an understanding of your needs. We’ll go through an initial discovery call with your team to outline some goals and establish a plan moving forward.

 

  • Once we have an in-depth understanding of what you’re trying to accomplish, our team connects with the appropriate personnel on your side. From building engineers to maintenance professionals, we talk to the people with the institutional knowledge behind your property. 

 

  • When we gather all the pertinent background information we need, we’ll then perform our property inspection. Our team investigates and analyzes the space through both a building science and financial planning lens. 

 

  • Upon completion of our inspection, we’ll present a variety of options on a funding call to your HOA or POA and discuss the next possible steps you can take. 

 

  • Once again, we’re here to understand your unique needs. Based on the information we present and the choices you make, we’ll craft the best plan that meets your goal.

 

These five steps outline our process, but don’t define our entire relationship with clients. We’re in this with you long-term and want to do everything on our end to make sure your development is successful for years to come.

22
May 20

At CEG, we’re committed to providing our clients with the services they need in a safe, conscientious manner. We’ve implemented several guidelines to make sure our inspections can be completed without compromising anyone’s health or safety.

09
Apr 20

Our message is clear – we’re open for business, and our team members want to work. But, as as industry we need to come together and take care of these inspectors during this time. They fulfill a vital role, but they need us to support them through this situation so they can be even better when this all ends.

08
Apr 20

At CEG, we’re focused on the long and short term health of our clients. To help navigate our clients through these unprecedented times, we are using our resources to help mitigate special assessments and increased dues. Our goal can be accomplished without an assessment, allowing you to continue working from home and focus on your fiduciary duties.

Recent Posts

Reasons to Perform a Reserve Study
What Does Compliance Mean for Your Reserve Study?
Our Process for Your Success
Our Safety Guidelines Moving Forward
The Unsung Heroes of COVID-19: Field Inspectors: Prepared to Help. Ready to Work.
Reserve Studies During COVID-19: We Can Help