When it comes to planning for future repairs and replacements, homeowner’s associations (HOAs) and condominiums must make strategic decisions to keep their properties well-maintained. A reserve study is a fundamental part of this process as it provides a long-term financial plan for maintaining the infrastructure and shared assets of a community. Whether a Reserve Specialist (RS) or a Professional Engineer (PE), each offers different areas of expertise depending on the property’s specific requirements.
A Reserve Specialist is certified by the Community Associations Institute (CAI) and typically focuses on the financial aspect of reserve studies. Their approach is well-suited for properties that do not have significant structural concerns. They estimate the cost and timing for repairs and replacements and help associations plan their reserve funds effectively. A reserve study New Jersey conducted by a reserve specialist typically includes an assessment of property elements and building components.
However, properties that face more complex issues, such as aging properties or those with complicated mechanical systems, might require a deeper evaluation. This is where a Professional Engineer, like a NJ structural engineer, becomes essential. A structural engineer has the qualifications necessary to assess the structural integrity of a building, as well as its critical systems like HVAC, plumbing, and electrical components. Their inspections are more technical and detail-oriented, focusing on the element’s current condition, any underlying issues, and potential long-term risks.
For example, a professional engineer would conduct a detailed assessment of the HVAC system and electrical wiring in a multi-story condominium with an aging infrastructure. They would evaluate the current efficiency of the HVAC units and identify potential safety hazards in the electrical wiring. The engineer’s report would provide recommendations for upgrades or replacements, detailing the technical specifications needed to make the systems meet modern standards.
New Jersey’s reserve study requirements, such as those outlined in law S2760, emphasize the importance of regular reserve study to maintain buildings properly. Read this infographic from Lockatong Engineering for more information on how to safeguard the structural integrity of properties.
