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
• Every community association in New Jersey needs to have adequate funds in reserve to keep with 
the general repairs as well as replacement of the common area elements that form part of the 
association. Using a New Jersey reserve study, an association can have an effective plan for 
keeping up with the costs of the facilities and make sure that the members do not carry the burden 
when there is need for sudden repairs or replacements. 
• If this is your first time to hear about a reserve study, you may be wondering what it is. A 
New Jersey reserve study is an effective financial tool for an association-governed community 
which is used for planning the long term repair and replacement needs of the common area 
elements.  Association managed communities use the reserve studies to forecast their funding 
requirements for any form of repairs and capital assessment along with assessing the need for 
improvements in the financial reserves. 
Things To Know About A New Jersey 
Reserve Study
• Most condos in the United States of America have made it mandatory for associations to conduct 
these studies at regular intervals.  The studies involve a thorough evaluation of the properties that are 
part of the association as well as analysis of the existing reserve funds. Depending on the on-site 
evaluation, a report is created which includes detailed information on the elements that may need to 
be repaired or replaced in the future. The report also includes details on how the association can 
maintain adequate funds in reserve in order to keep up with these expenses.
• With the help of a New Jersey reserve study, the members of an association managed community are 
not required to pay for any kind of special assessment. Because detailed information about the 
expenses in made available in the report, the members are well aware of the costs.
• 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