A Reserve Fund Study may be described as a plan for the "provision of resources for major repairs and replacements of building components and improvements, or common elements, over time to ensure adequate funding of all future capital expenditures when required."*
*Definition from the Institute of Real Estate Studies
The reserve fund study will include a description and estimated life expectancy, typically over 30 years, of items identified as appropriate for the study's purpose and scope. This may include, but is not limited to:
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