Embedded Files
SmartReserves support and enable Community Management to plan, and serve their members, through a scientific understanding of their reserve and maintenance planning requirements.
Intelligent Reserve Management
Professional Reserve Study:
Professional Reserve Study:
Why is it Important?
In countries like the United States, creating reserves for major work have been legislated for Residential Community Associations, essentially banishing the scourge of the special levy. In order to protect both current and future homeowners, it was legislated that a proper study needs to be done and disclosed with regards to their current ability to fund future major maintenance and replacement costs.
This has now been legislated in South Africa as well for Sectional Title Residential Schemes and the common believe is that this will soon apply to Residential Schemes managed by Homeowner Associations as well.
A Reserve Study, or a Maintenance Plan, is a budget planning tool which identifies the current status of a community’s (residential, schools, clubs and other communities) Reserve and Maintenance Fund, with the aim to ensure it has a stable and equitable Funding Plan to offset the anticipated future maintenance and replacement expenditures.
One of the primary responsibilities of any community’s Controlling Body is to protect, maintain, and improve the community's infrastructure. Management must plan many years in advance to accomplish this objective, ideally without reliance on additional funding like special contributions or loans.
One of the goals of a Reserve Study or a Maintenance Plan is to give Community Management a tool to prepare and manage the maintenance, repair and replacement of their communities’ facilities and other common elements.
A Reserve Study and a Maintenance Plan are the art and science of anticipating, and preparing for, a community's maintenance, repair and replacement expenses. Partially art, because projections are made about the future, but also a science, because the base of the projections, assumptions and associated calculations are extensively researched and well defined.
Benefits of a Professional Reserve Study
Benefits of a Professional Reserve Study
Reduces financial surprises – avoids sudden special contributions or funding requirements by planning for future repairs and replacements.
Ensures fair, sustainable contributions – members pay their fair share over time, keeping contributions equitable & predictable.
Protects property value – well-maintained property and common areas preserve and enhance the community image and therefore general value.
Supports proactive maintenance – shifts maintenance from reactive replacements & repairs to proactive, planned, long-term management.
Improves transparency & compliance – clear, professional plans build trust and meet management's fiduciary requirements.
The SmartReserves Facility management Application
The SmartReserves Facility management Application
Intelligent Facility Management
Specialised Service with Specialised Systems: SmartReserves has partnered with A2O Applications to custom develop a Facility Management Application (FMA). The FMA is designed to facilitate Step 1 of the SmartReserves Delivery Process, namely Component List Compilation.
Page updated
Report abuse