Things To Know About A New Jersey Reserve Study
                     Things To Know About A 
New Jersey Reserve Study 
Things To Know About A New Jersey 
Reserve Study 
 A reserve study is a very important tool for every homeowners association in New 
Jersey. It can help open the financial responsibilities of the association to both the 
board and its membership.  It entails an analysis of a physical structure’s condition as 
well as the status of the capital reserve fund from which major capital improvement or 
replacements of various system components will be paid. 
 The New Jersey reserve study  is conducted by an independent consultant, and the 
report originating from this study gives the board and its membership a budget tool for 
planning what and when anticipated major expenses will be required as well as how 
much and when to fund the reserve to pay for them.
Things To Know About A New Jersey 
Reserve Study 
 A properly conducted New Jersey reserve study should feature a comprehensive 
engineering inspection as well as evaluation of the common element building 
components and a written description of the site that identifies the current condition of 
all components.  This robust data gathered from the study can be used to prepare the 
capital cost reserve analysis in order to determine what the HOA should set aside on a 
periodic basis for the purpose of covering the facilities major expenditures over the 
period of the study, which could be anywhere between 10 to 30 years depending on 
the HOA’s time horizon. 
Things To Know About A New Jersey 
Reserve Study 
 In case the independent consultant that you will hire to conduct the New Jersey 
reserve study finds that your reserve is underfunded for anticipated expenses, they 
can help you come up with practical alternatives that combine sound engineering and 
financial practices.  If they locate issues or if you have known issues, the consultant 
can provide a wide range of services that will help you rectify the problems and make 
sure that the future of your HOA is properly covered.
 For more information on a New Jersey reserve study, visit our website at 
https://www.lockatong.com/
Things To Know About A 
New Jersey Reserve Study