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HUNT TREASURE


STUDY INTO A TREASURE MAP


TURN YOUR RESERVE


By Matthew Hass, RS, Waldman Engineering


“Treasure Hunt” was a television game show that was on the air in the 1950s, 1970s and 1980s. Viewers would tune in to watch contestants choose boxes or treasure chests, hoping that inside they would find expensive prizes or cash. How exciting to be able to open that treasure chest and find a jackpot! I bet you didn’t realize it, but you can experience a similar sense of exhilaration over finding a treasure in your association… and you don’t have to outwit other contestants! What’s the secret to this treasure? Simple: a reserve study!


How do y How do you find treasure in your association’s building or community? By using a reserve study! In one way or another every reserve study adds value to the purpose and goals of s purpose and


How do you find treasure? By using a treasure map! How do you find treasure in your association’s building or community? By using a reserve study! In one way or another every reserve study adds value to the purpose and goals of an association and their board. The board’s purpose and goals are to make sound decisions in the best interest of their association, and without a reserve study the board will most likely not have the information they need to meet those goals. The reserve study


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goals are to make sound decisions in the best interest of their association, and without a reserve study the board will most likely not have the information they need to meet those goals. The reserve study provides the board


with both a physical and financial analysis of the property, empowering them to make sound decisions based on facts. The key is learning how to read your reserve study like a map.


not. Whe


unpredictably this sparks a forensic investigatory fire inside me. Sometimes unseen and/or unforeseen


environmental and human factors can cause an


It starts with the physical condition of the property. The reserve study provides the board with a current condition assessment (i.e. physical analysis), of the common components for which the association is responsible. As a professional inspector, I find this to be a fascinating part of my job. As I get older, I see things change over time and many changes are very predictable; however, many are not. When I see a common component condition change unpredictably this sparks a forensic investigatory fire inside me. Sometimes unseen and/or unforeseen environmental and human factors can cause an


28 | COMMON INTEREST®


A Publication of CAI-Illinois Chapter


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