A differentiating factor when working with Criterium Engineers on a reserve study or other homeowner association (HOA) project is that our licensed, Professional Engineers conduct the work and are always available to answer questions—long after the work is completed. Now, an additional differentiator is being introduced that will have long-term impacts for HOA boards and property managers.
Criterium’s latest innovation is adoption of HomeRun IQ, a new online planning tool to perform its work with HOAs. “The two biggest features are ease of access to reports and improved graphics,” explains Hunter Griffiths, Project Engineer. “In addition to our detailed written reports, the graphics are highly visual, easy to interpret, and make it easier for boards to present information to their association’s members.”
“This user-friendly online software will make it easier to perform updates,” explained Rebecca Costigan, PE, and Criterium’s Chief Engineer. “It also allows property managers and board members one place to view the latest report drafts, component details, and more.” She noted that the property manager or board can work with their engineer to adjust inputs, if needed.
Major features of the new product:
- Online – reserve studies and other engineering documents produced by Criterium Engineers are now in an online format will be accessible in a secure, online portal, instead of a PDF or spreadsheet format. (A PDF format may be requested.)
- User experience – user-friendly, online portal access for HOAs. Each board member and property manager will have their own accounts to access the portal.
- Inventory – an individualized property component inventory is created online and may be easily updated and managed by the Criterium Engineers project professional.
- Multi-property management – property managers who manage several properties may manage their HOA documents in one portal for all reserve studies performed by Criterium Engineers.
- Continuity – HOA volunteer boards and property management firms change and evolve over time; records can easily get misplaced if someone leaves the organization. This online tool will serve as a repository for all engineering studies and related information.
- Archival – older reserve studies and related details remain accessible so that all information is in one place. Documents are easy to share.
Criterium Engineers worked with HomeRun IQ, a US-based software company, to develop the customized reserve fund financial analyses for our clients. The HOA planning tool analyses and reports meet all the requirements of the American Institute of Certified Public Accountants audit guidelines for Common Interest Realty Associations and is consistent with the Community Associations Institute reserve fund study standards.