Community assets do not last forever. Roofs, pavement, building components, common-area infrastructure, and other major assets eventually require repair or replacement. Reserve studies help associations anticipate these expenses, plan responsibly, and maintain the funding necessary to address future capital needs.
Reserve studies are also subject to legal requirements in Maryland. First Real Estate Management works closely with Boards and qualified reserve professionals to coordinate required reserve studies in accordance with applicable Maryland laws and requirements.
FREM coordinates with qualified reserve study professionals to facilitate the preparation and updating of reserve studies. Once completed, our management team helps Boards incorporate the findings and recommendations into annual budgeting, reserve funding, anticipated projects, and long-term financial planning.
Our team also helps Boards understand how the use of reserve funds relates to the association’s obligations and works within applicable legal requirements when reserve funds are used, transferred, or borrowed.
By combining professional reserve studies with ongoing financial and management oversight, FREM helps Boards remain informed, plan responsibly, and make sound decisions for the long-term stewardship of their communities.
