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HOA Reserve Study: How Are Engineers Different from Other Firms?

The time has come for your homeowners’ association (HOA) to complete a reserve study. Where do you begin? An online search presents a wide range of companies that perform reserve studies for homeowner associations. Why should an HOA in need of a reserve study hire an engineer versus a reserve specialist, accountant, or other type of reserve study contractor?

Why Hire an Engineer for Your Association’s Reserve Study?

At Criterium Engineers, our licensed, Professional Engineers help associations make the most informed decisions and investments. Here’s how we are different—our professional engineers:

  • Perform an on-site visual examination of community assets;
  • Conduct an extensive financial analysis;
  • Meet with board representatives—as needed;
  • Identify potential issues and explain their financial impact;
  • Perform enhanced reserve studies for HOAs needing further analysis and insight;
  • Are peer-reviewed by a second, licensed Professional Engineer.
  • Also have the Community Associations Institute Reserve Specialist designation.

By contrast, most accounting firms perform only a financial analysis of your assets. Other companies send a technical representative to conduct your reserve study with their work later being reviewed by an engineer—who never physically visits your association’s site.

Reserve studies are just the start of the long-term relationship Criterium Engineers develops with HOAs. Together, our experts at 35 locations across North America have:

  • Completed tens of thousands of homeowner association projects;
  • Inspected more than 75,000 buildings of all kinds;
  • Expertise in building inspections and building technology—that’s what we do!

A Licensed, Professional Engineer:

  • Is licensed by the state in which they practice;
  • Has completed an accredited, degreed engineering program;
  • Has four years of work under the direction of other engineers;
  • Passed a comprehensive two-day exam;
  • Is bound by a code of ethics and state law to practice only in areas where they are qualified;
  • Maintains comprehensive professional liability insurance;
  • Stands behind their work and are legally and ethically accountable.

Request a free proposal today to learn more about our reserve study process.