Facilities Advisors, Inc. California reserve Study Services

Facilities Advisors, Inc. serves all of California from our office in Ventura, California.  We have been here since 1982, and have performed hundreds of reserve studies for California associations.  When you need a reserve study fast, and need it at a competitive fee, contact us at Facilities Advisors, Inc.  (877) 304-6700.

We have prepared numerous reserve studies for all types of associations; condominiums, planned developments, timeshare associations, and cooperatives.  Our reserve study reports are unique - they are designed to meet your statutory requirements, to serve as a maintenance plan, and the reports and disclosures are designed to save you time.  You save time in budget preparation because we prepare the reserve disclosures for you.  Our unique reserve staudy comparison exhibit also saves you time by showing you where our current report differs from the previous report, no matter who prepared the prior report.  It helps report users understand and evaluate what has changed since the prior report was issued.

California Reserve Study Laws

California’s reserve study disclosure requirements are unique; they differ from those in other states.  The requirements are set forth in the Davis – Stirling Common Interest Development Act, Civil Code Section 1365 and its sub parts.  The Code also sets forth certain performance requirements for board members, and requires a site inspection every three years.

California has established reserve study performance and disclosure requirements, but has not established any minimum funding requirements.  The law does require disclosure of the funding plan, and also whether or no any special assessments are planned as any part of the 30-year funding plan.

California law is codified as the Davis-Stirling Common Interest Development Act.  Sections 1365 and 1365.2.5 set the disclosure requirements and specific format of certain disclosures.  Section 1365.5 establishes performance standards.  These standards require a visual site inspection every three years.  Since the disclosure standards require new information to be distributed to members as part of the annual budget, it is virtually impossible for the association to comply with the disclosure requirements unless the association performs an update without site inspections in the two "off" years.

The full text of California Civil Code §1365 is attached.

Our Goals for your Reserve Study

Our primary goal is to make sure that your reserve study complies with statutory requirements.   See our sample California disclosure.  This disclosure form is designed to simply be made a part of your annual budget package.  Failure to make the proper disclosures on a timely basis limits the association's ability to increase assessments.

Our second goal is to make your reserve study something more than simply the fulfillment of a statutory obligation. We believe that the reserve study should be a functional tool used in the financial management of the association. This means that the reserve study needs to be realistic. Too often, we hear from new clients that they don't believe their prior reserve study was correct. We believe that the reserve study should be a reflection of the Association's actual maintenance plan. Therefore we will ask you questions about recently completed and planned future reserve expenditures. While none of us can accurately predict the future over the next 30 years, the association's facilities manager usually has very concrete short-term plans (over the next 1 to 3 years). We attempt to incorporate that plan into the reserve study, otherwise the reserve study serves little purpose.

Visit our national office web site at www.reservestudyusa.com to see our full range of services as well as sample reports.

Frequently asked reserve study questions

Sample reserve study report

Sample California reserve study disclosures

Request for reserve study proposal form