Services: Capital Reserve Studies

Condo Ownership and Capital Reserve Studies
Keeping up with maintenance issues can be especially challenging in condominium complexes where decision-makers may lack experience in the upkeep of multi-residence buildings. Completing a capital reserve study will provide homeowner’s associations with the information they need to plan and budget for future maintenance issues. The ability to collect funds evenly over time based on reserve study estimates can prevent the need for special assessments on owners or the deferral of maintenance due to a lack of funds.

Many states, such as Washington, have laws that make having an updated capital reserve study a legal requirement. This is done in order to protect current owners and potential buyers from having to pay large sums for maintenance issues that should have been, but were not, addressed when they were discovered.

To get a capital reserve study proposal for your condominium association, contact Trinity | ERD at (206) 467-0054.

Click here to learn more about Washington State's new condominium law requiring capital reserve studies.