Reserve Study Project Implementation

Reserve studies identify upcoming repairs, but many communities struggle with implementing them.

Mason CMI helps communities convert reserve study recommendations into organized capital projects.

Reviewing Reserve Study Reports

A reserve study is your property’s financial “crystal ball.” It estimates the remaining useful life of your assets and the cost to replace them.

  • Component Analysis: We meticulously review the inventory of your property’s physical assets to ensure nothing is overlooked.

  • Financial Health Check: We analyze your current reserve fund status against the “Percent Funded” metric to determine if you’re prepared for upcoming expenses.

  • Accuracy Audit: We verify that the projected costs in the report align with current market rates, which can fluctuate significantly due to inflation and material shortages.

Prioritizing Repair Projects

Not all repairs are created equal. When a reserve study lists twenty upcoming tasks, you need a hierarchy based on urgency and ROI.

Budget Forecasting

Strategic budgeting ensures that your project doesn’t stall halfway through. We move beyond the “estimates” of a reserve study to create a concrete financial plan.

  • Cash Flow Modeling: We map out exactly when money will leave the accounts to ensure liquidity.

  • Contingency Planning: We typically recommend a 10% to 15% contingency fund to account for “hidden” conditions found once demolition begins.

  • Alternative Funding: If reserves are low, we help explore options like special assessments or commercial loans.

Contractor Bidding & Selection

The lowest bid is rarely the best bid. Our process focuses on “apples-to-apples” comparisons to eliminate hidden costs.

  • Detailed RFP Creation: We draft a Scope of Work (SOW) so every contractor bids on the exact same materials and methods.

  • Vetting: We verify licenses, workers’ comp insurance, and past performance on similar projects.

  • Interviewing: We don’t just look at the numbers; we assess the contractor’s communication style and site management plan.

Construction Management

Once the hammers start swinging, our role shifts to oversight. We act as the bridge between the client and the contractor to ensure the project stays on track.

  • Quality Assurance: Regular site visits to ensure the work matches the specifications in the contract.

  • Schedule Oversight: Monitoring milestones to prevent “project creep” and ensure timely completion.

  • Change Order Management: We scrutinize any requests for extra costs, ensuring they are legitimate and fairly priced.

  • Close-out: Handling the final punch list and ensuring all warranties and lien waivers are signed and delivered.

This service helps boards move from planning to execution while protecting reserve funds.