The outcome of a structural integrity reserve study is a comprehensive report that includes:
- Identification of each visually inspected item within the condominium property.
- Estimates of the remaining useful life and the replacement cost or deferred maintenance expense for each inspected item.
- A reserve funding schedule proposing an annual reserve amount designed to cover the replacement cost or deferred maintenance expense of each item by the end of its estimated remaining useful life.
Additionally, the study might suggest that no reserves are necessary for items whose useful life and replacement costs cannot be estimated, or it may propose a deferred maintenance expense for these items. For items with an estimated remaining useful life of more than 25 years, the study might recommend not maintaining reserves for replacement costs but could suggest a deferred maintenance expense amount. Learn more in the official statute.
