Florida Reserve Studies

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Florida Reserve  Studies

Facilities Advisors International, LLC. has been preparing reserve studies since 1982, and in Florida since 2006.  We have worked with condominium, homeowners, and timeshare associations in the following areas of Florida; Miami, Orlando, Daytona Beach, Naples, and New Smyrna Beach.

  1. We wrote the book on reserve studies - "Reserve Studies - The Complete Guide"
  2. We wrote the standards on reserve studies - ICBI's Generally Accepted Reserve Study Standards - Facilities Advisors president Gary Porter is also president of the International Capital Budgeting Institute (ICBI)
  3. We use certified software guaranteed for accuracy - Our Facilities 7 internet-based software has been certified by ICBI and tested by an independent CPA firm

We have prepared numerous reserve studies for all types of associations; condominiums, planned developments, timeshare associations, and cooperatives. Benefits of selecting Facilities Advisors, LLC. for your reserve study:

  • Competitive fees
  • Responsiveness
  • Easy-to-read reports
  • Internet-based software available to our clients

Competitive fees - We are able to provide competitive fees because of our extensive experience and dedication to using technology to make our services more efficient.  This also translates into time savings and the ability to keep fees competitive.  We are the only reserve study company to have developed software to electronically capture component data on site, which reduces the amount of time necessary to gather component data and translate that information into a reserve study report. FL-Beach-FAI-Reserve-Study

We "scope" the reserve study so that level of component detail matches how money is expended by the association, as that is the ONLY way the reserve study can ever be correlated to your association financial statements.  We ask you questions and help tailor the reserve study to your unique association.  Our internet-based software, with a multi-dimensional database structure (hidden in the background) and capabilities for three category levels plus major and minor components, gives us the ability to provide data at the correct level, and still be able to "roll up" the data into concise reports.  

Responsiveness - We are responsive to your needs.  If you request changes to your report, we will make them.  After all, it is your report.

Easy-to-read reports - Our reports are prepared at a summary level for easy comprehension, followed by detail reports as supplemental schedules.  This keeps the "official" reserve study report small enough to provide to members and others, and the detail supplmental schedules can be used internally by management.  Different reports for different users.  We also provide any statutory and regulatory disclosures.  We give you the information you need to (1) prepare your budget, and (2) communicate summary in formation to your board of directors and members.

Internet-based software - We also provide access to the same internet-based software we used to prepare your reserve study.  This allows you to keep your reserve plan up-to-date, and save money in the future by (1) proactively planning reserve projects, and (2) minimizing future reserve study costs based on your update of component information.

Call us today for a free proposal.  (877) 304-6700 or (813) 444-8022

You win with our unique approach to reserve studies; competitive fees, easy-to-read reports, a component structure tailored to YOUR association, and access to our internet-based software.  This is not just an Excel workbook, we give you access to the same software we use to perform your reserve study - the most powerful software in the industry, which has been tested by an independent CPA firm for accuracy of calculations.  We work WITH our clients to help you achieve the best outcome.

Our Goals for your Reserve Study

Our primary goal is to make your reserve study something more than simply the fulfillment of a statutory obligation. We believe that the reserve study should be a functional tool used in the financial management of the association. This means that the reserve study needs to be realistic. Too often, we hear from new clients that they don't believe their prior reserve study was correct. We believe that the reserve study should be a reflection of the Association's actual maintenance plan. Therefore we will ask you questions about recently completed and planned future reserve expenditures. While none of us can accurately predict the future over the next 30 years, the association's facilities manager usually has very concrete short-term plans (over the next 1 to 3 years). We attempt to incorporate that plan into the reserve study, otherwise it serves little purpose.

Our secondary goal is to make sure that your reserve study complies with statutory requirements.

Reserve Study Services

The advantage of using Facilities Advisors International, LLC. for your reserve study is that we can provide you with information that no one else can provide, such as a complete inventory by location, down to the level that we can show you every common area component in a specific room.FL-Fountain-FAI-Reserve-Study

A Facilities Advisors Inc. reserve study provides you with a dynamic management tool. Our reserve study is a management tool, not a static "once every three years" report.

Levels of Service

Facilities Advisors International, LLC. offers three levels of reserve study services; Level 1 - Full Reserve Study, Level 2 - Update of Reserve Study with Site Inspection, and Level 3 - Update of Reserve Study Without Site Inspection.

Level 1 - Full Reserve Study

We perform a complete site inspection, obtaining or verifying measurements and counts of common area components. This also includes an evaluation of condition and photo inventory of most components. We then compile the information obtained into our easy-to-understand reports.

Level 2 - Update of Reserve Study with Site Inspection

Once a full reserve study has been completed by Facilities Advisors International, LLC., we will often perform updates with a site inspection. The level 2 site inspection is less comprehensive than a level 1 site inspection in that we do not obtain or verify measurements and counts unless it appears that there have been changes. We do evaluate condition and update the photo inventory where necessary. We then compile the information obtained into our easy-to-understand report.

Level 3 - Update of Reserve Study Without Site Inspection

An annual update to the reserve study is simply good planning. This allows you to "refresh" the funding plan and account for minor variations form the original funding plan. We inquire about expenditures made, changes in pricing of replacement costs, and variations in funding from the original plan, but do not perform a site inspection. This is a valuable planning tool at a very reasonable cost, generally no more than 25% of the cost of a full study.

 

Visit our national office web site at www.reservestudyusa.com to see our full range of services as well as sample reports.

Timeshare Associations

Sample Reserve Study

Request for reserve study proposal form

 

Contact Us - Facilities Advisors Florida

foto PDR 1r

Pierre Del Rosario RS, RSS.

Facilities Advisors International LLC
14502 N Dale Mabry, Suite 200
Tampa, Florida 33618

AND

150 SE 2nd Avenue, 3rd Floor
Miami, Florida  33131

Florida telephone: (813) 444-8022

National office telephone: (877) 304-6700
National fax: (805) 715-0586

This email address is being protected from spambots. You need JavaScript enabled to view it.

Sample Reserve Study

This Sample Reserve Study is for a small planned development project.  Notice how each financial exhibit presents a summary by category.  This serves two functions; it keeps the report small enough so that it is not too imtimidating, and it allows the reader to focus on the big picture.  The detail component list is also presented at the component level as required by industry standards.  This is a reserve study report that is easy to understand.
Sample Supplemental Schedules:

Schedules presenting the details at the component level are presented separate from the report as supplemental information.  For those individuals that want to see all the detail supporting the financial exhibits summarized at the component level, this is the place to go.  Sample supplemental schedules for the above referenced reserve study are also available for viewing.

We purposely separate the report into two parts representing summary and detail information, as it allows the reader to easily determine how much information they want to see.

About Us - Facilities Advisors Florida

foto PDR 1r

Pierre Del Rosario RS,RSS

Facilities Advisors International LLC
14502 N Dale Mabry, Suite 200
Tampa
Florida  33618

AND

150 SE 2nd Avenue, 3rd Floor
Miami
Florida 33131

Telephone: (813) 444-8022 or (877) 304-6700
National fax: (805) 715-0586

National web site: www.reservestudyusa.com

Who we are

Facilities Advisors International, LLC. was formed to provide for the complete facilities maintenance management needs of common interest realty associations and other organizations.  We have 30+ years experience with condominium associations and planned developments, and 20+ years experience with timeshare associations and country clubs.  Condo hotels, churches, schools, and governmental entities are relatively newer additions to the service group.  While most organizations are familiar with the traditional reserve study, only a few have moved to the next level of integrating the study into a complete facilities maintenance plan. 

Our philosophy is that the reserve study is but one phase of the facilities maintenance process - the starting point.  We have developed software that allows any organization that maintains complex facilities to better manage their facilities.  The result is a more knowledgeable management team, more efficient staff, and more cost savings for the association.  For those organizations that are not yet ready to commit to industry best practices, an integrated facilities management system, we will certainly perform the traditional stand-alone reserve study services.  This is the starting point for developing an integrated facilities management plan.

We have a more than 30 year commitment to the industry for reserve study services.  No service company can survive that long in this industry without having proved themselves time and time again.  Our Company has not only survived, but excelled during that time period, receiving such recognition that our president, Gary Porter, served as CAI's national president in 1998-99.  We have benefitted from the trust of the industy.  That trust was earned through our core values.

  • INTEGRITY: Maintaining a high level of integrity is the only choice our clients will accept from us, and our personal standards demand it.
  • TRUSTWORTHY/TEAM-ORIENTED: We know that mutual trust and teamwork creates a progressive working environment that attracts and retains the best and the brightest people.
  • RESPECTFUL: We recognize the importance of treating our Clients and Staff and all others in a respectful manner at all times.
  • RESPONSIBLE: We know that we have a responsibility to understand our client company's objectives and to strive to successfully implement these programs.
  • RESPONSIVE: Our responsiveness separates us in a positive manner from our competition. Our ability to act quickly and effectively wins the praise and respect of all.
  • CUSTOMER DRIVEN: We recognize the importance of listening closely to our Clients to better understand their unique requirements. Providing progressive programs, processes and solutions to meet their requirements is essential to our mutual success.
  • EFFICIENT: We know that a progressive approach to innovation and how we organize and perform our work is critical to our individual and team success. We understand our roles and responsibilities in this process and how our performance impacts the performance of others.
  • EXCEPTIONAL PERFORMERS: We know that we must be better than our competition every day to attract, satisfy and maintain our Clients. Our individual and team efforts are always progressive and go beyond expectations.

Facilities Advisors International, LLC. is a company geared with unique expert knowledge, skills, and experience to serve your reserve study and facilities maintenance needs.

Our goal is to excel within the industry as a leader in providing personalized and premium service by using only qualified and trained personnel geared to achieving benchmark performance.

Our Team:

Pierre Del Rosario  has provided financial services to condominium and homeowners associations since 2000. He is co-author of "Reserve Studies The Compleate Guide". He holds a college degree in accounting and Certified Public Accountant in Mexico, a professional certificate of Financial Management of the University of California San Diego, he  has worked with most of our clients in performing their reserve studies.  His experience on reserve studies includes virtually every type of project, including; garden style condominium projects, high rise condominium projects, planned developments, timeshare projects    and churches.  Mr. Del Rosario has also earned the RS (Reserve Specialist) credential issue by CAI and RSS(Reserve Study Specialist) a permit from the State of Nevada.

Gary Porter has provided financial services to condominium and homeowners associations since 1976. He has authored five books, including "Reserve Studies The Compleate Guide," and more than 200 articles on association financial matters. He is considered to be one of the foremost financial experts for associations, and has been quoted or published in the Wall Street Journal, Kiplinger’s Personal Finance, Common Ground, The Ledger Quarterly, and The Practical Accountant. He is also the author of the American Institute of CPA’s course "Providing Services to CIRAs (Common Interest Realty Associations)." He has been performing reserve studies since 1982.  Mr. Porter holds the RS (Reserve Specialist) credential issued by CAI, is a registered Reserve Study Specialist with the state of Nevada also Mr.  Porter holds the FMP(Facilities Management Professional) credential, which designates him as an expert in facilities management, the most critical skill in component condition assessment

Mr. Porter has been active in the industry for decades.  He was a founding member of the CAI Channel Islands California chapter in 1979.  He served as CAI's national president in 1998-99.  He has received numerous awards, including CAI's Distinguished Service Award, and CACM's Vision Award for outstanding service.

Facilities Advisors International LLC. also has offices in California, Arizona, Massachusetts, Hawaii and Utah

2015 Reserve Study Guide

Reserve Studies - The Complete Guide is 300 pages explaining the concepts and process for making a reserve study. For more information and to order, click here.