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Is Your Reserve Study Setting You Up for Failure?

Is Your Reserve Study Setting You Up for Failure?

Okay, HOA members and community managers, let’s get real.

Reserve studies are an invaluable part of your budgeting toolkit, but has yours ever let you down when it comes to exterior painting and maintenance? This can be a major issue for many community management professionals, and we think it’s worth exploring.

Your Reserve Study Might Be Missing One Crucial Element

A third-party reserve study can be extremely helpful for mapping out the trajectory of your expenses, allowing you to more effectively budget for routine maintenance and repairs.

As a painting and siding company, however, we have identified a key area where reserve studies need a little help: budgeting for exterior painting.

Why the breakdown?

Well, your future expense analysis might accurately take into account the cost of paint and labor, but what about the natural breakdown of your siding itself? Your typical painting and repairs budget allows for basic paint work and very minor repairs, more just refreshing the surfaces. This might work when a surface is relatively new, but a cycle or two down the road it may become insufficient as the siding and trim break down.  Now the basic paint job won’t get you the extra protection your siding now needs.  

It’s a little like taking two steps forward, and three steps back.

4 Ways to Ensure That Your Reserve Study Has Got You Covered

At Webfoot Painting, we certainly can’t replace the expertise provided by your reserve study professionals, but we can apply our expertise to the equation.

Here are a few tips to keep in mind:

  • Make sure you know the qualifications of those who are preparing your reserve study.
  • Are the figures in your study based on national averages? Many are, and these figures can vary drastically. It’s best to obtain local bids that you know are 100% accurate.
  • Know the scope of the work in your bid! This is where our expertise comes in. We can check whether the scope encompasses the ongoing prep and repairs needed to really care for your property, rather than just cover surface issues.
  • Know your building materials. Natural wood siding is going to wear much different than cement composite siding like Hardi Plank.  

The Solution? Budget for Quality Painting and Repairs

Planning ahead for necessary repairs and maintenance for your aging surfaces is the key to success. And, in the long run, avoiding surface-level, minimal paint jobs will save you money by keeping your structure in better condition overall.

To blow the dust off an old cliche, an ounce of prevention is worth a pound of cure.

Here at Webfoot Painting, we are happy to analyze your reserve study. This is basically an opportunity to make sure that your allotted funds will cover your painting and repair needs in a realistic, viable way. No band-aids; just real, enduring services that will keep your budget consistent and predictable.

If you have any more questions about how this works, or how we can serve you, we invite you to contact the Webfoot Painting team!

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