RESERVE STUDIES
Island Inspection Services provides a full range of inspection and consultation services for the state of Hawaii. We have worked with numerous real estate, insurance, banking, and property management companies on all the major islands and take pride in our timely, accurate and thorough reports. To help protect our clients and their agents, our Errors and Omissions Insurance Policy covers both our clients and the agents who refer them. All our inspectors have been thoroughly trained and unlike other reserve study companies we do not sub-contract out our services. All our reports come with a unique executive summary which helps summarize our findings. This helps to highlight the areas that are in urgent need of servicing.
A RESERVE STUDY IS A TWO PART PROCESS
1. Field Assessment - The Field Assessment involves on-site analysis and survey of specific components within a property. All common building components provide a general evaluation of the condition of the property and the cost of replacement and/or repair.
2. Reserve Analysis -. From the Field Assessment a narrative report is compiled
the assumptions, general conditions, observed deficiencies, useful lifetimes,
and remaining useful lifetimes for each element included in the study. Integrated
in the narrative portion of the report are spreadsheet of cost, summaries,
and photographs that make the report a useful and easy to comprehend tool
for the client to utilize during the budgeting process.
SERVICES OFFERED
A reserve study is generally performed to give condominium associations and property management companies an overview of the amount of money they will need to set aside to upkeep a building on the common areas over a given time span. The Hawaii State Law (Hawaii Condominium Regulations Title 16, Chapter 107), requires condominium associations to perform reserve studies for at least 20 years, though most often a full reserve study will run 30 years. A reserve study can be performed separately or in conjunction with a building inspection on Leasehold Land or if a shorter time frame is involved.
PARTIAL RESERVE STUDIES
A partial reserve study can be performed for any type of building whether it be residential, commercial or industrial in nature. This reserve study is most often used as a determining factor on whether a building is to be purchased or if price negotiations are to be made during the escrow process. Typically our partial reserve studies are done on larger shopping malls and industrial complexes, but can be performed on smaller projects as well.
Give us a call for our prices or for more information. Our toll free number is (888) 606-9070
FOR MORE INFO. OR TO ORDER AN INSPECTION EMAIL US AT:
moreinfo@islandinspections.com
Island Inspection Solutions LLC
Hcr 1 Box 5367
Keaau, HI 96749
Office: (808) 969-9070
Toll Free: (888) 606-9070