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Condominium Reserve Studies in Ohio by Reserve Specialists approved by CAI | ohioreservestudies.com Reviews
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Leading provider of reserve studies throughout Ohio by Reserve Specialists approved by CAI and performed by Professional Engineers
ohioreservestudies.com
Condominium Reserve Studies in Ohio by Reserve Specialists approved by CAI
http://ohioreservestudies.com/What's%20In%20a%20Reserve%20Study.htm
What is a Reserve Study. Ohio House Bill 135. What's In a Reserve Study. What s included in a Reserve Study. To comply with the Community Association Institute's (CAI). A reserve study should include the following:. A summary of the association s components, including the number of units, physical description, and the financial condition of the reserve fund. A tabular listing of:. Expected useful life of each component. Remaining useful life of each component. Current replacement cost of each component.
Condominium Reserve Studies in Ohio by Reserve Specialists approved by CAI
http://ohioreservestudies.com/Who%20to%20hire.htm
What is a Reserve Study. What's In a Reserve Study. So who should you hire to perform your Reserve Study? Some communities have tried to perform a Reserve Study using residents to save money. Our experience indicates that residents lack the engineering experience to accurate evaluate the property and are reluctant to apply accurate assessments of the costs that must be set aside to perform long term repairs because the other residents know where they live. Some companies are located on other states.
Condominium Reserve Studies in Ohio by Reserve Specialists approved by CAI
http://ohioreservestudies.com/Ohio%20House%20Bill135.htm
What is a Reserve Study. Ohio House Bill 135. What's In a Reserve Study. Ohio House Bill 135 Summary:. On July 20, 2004, Ohio enacted Ohio Revised Code Section 5311.081(A)(1) that indicates:. 1) unless otherwise provided in the declaration or bylaws, the board must adopt and amend budgets for revenues, expenditures, and reserves. In an amount adequate to repair and replace major capital items in the normal course of operations, without the necessity of special assessments. Of the unit owners' association.
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http://ohioreservestudies.com/New%20FHA%20Rules%20for%20Funding%20Condos.htm
What is a Reserve Study. Ohio House Bill 135. What's In a Reserve Study. 2004 Ohio Revised Code 5311 significantly changed the funding requirements of an association s reserve fund and how assessing special assessment should be limited and all condominium associations should adequately fund for future capital expenditures. A formal reserve study is required. In-house or hastily prepared reserve studies generally lead to poor results. In addition to the HUD underwriting guidelines which apply to FHA insur...
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Condominium Reserve Studies in Ohio by Reserve Specialists approved by CAI
What is a Reserve Study. What's a Reserve Study. Important News about FHA Loans for Condos. What is a Reserve Study? A Reserve Study is the art and science of anticipating. For major common area repair and replacement expenses in a condominium development. A Reserve Study allows the Condominium Board to offset the inevitable ongoing deterioration of the common areas than will be needed in a condominium development with funds to ensure the timely repair or replacement of those common areas.
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At Ohio Residential Inspections, we take the time to do the job right. We clearly explain our findings and give you the answers that can help you make the right decision. We understand how important a real estate purchase is, so we want you to have all the information you need to proceed with confidence. Once our thorough inspection is completed, we'll deliver a comprehensive r. Inspection Services Northeast Ohio. Check out our qualifications to see many of our years of experience. Mon - Fri 8am - 9pm.
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