Reserve Studies

Selecting the right firm for Reserve Studies in Rhode Island is one of the most important decisions your HOA or condo association will make. A well prepared reserve study sets the foundation for your community’s long-term financial health and ensures that capital projects are anticipated, funds are properly allocated, and surprises are minimized. But not all firms offer the same level of expertise, especially when it comes to local laws, weather conditions, and community dyna

What Rhode Island Law Says About Reserve Studies: Understanding Rhode Island’s Legal Framework Under the Rhode Island Condominium Act (R.I. Gen. Laws §34-36.1), associations must establish adequate reserves for future capital expenditures and major repairs. Even though the law doesn’t explicitly mandate the completion of a “reserve study,” it does require boards to ensure reserves are “sufficient” to meet anticipated needs. A reserve study is the only credible way to prove t

If you avoid these common reserve study mistakes, you can save your association from financial strain and homeowner conflict. Whether you’re establishing your first study, need to Update Your Reserve Study in Rhode Island, or want clarity on the Difference Between Reserve and Operating Budgets, our team provides clear, actionable insights.

Many small HOAs and condo associations wonder if the process of Reserve Studies in Rhode Island is truly necessary. After all, with fewer units and a smaller budget, it can feel like a luxury rather than a necessity. But the truth is, even the smallest associations benefit tremendously from a professionally prepared reserve study. At Hennessy Reserve Partners, we’ve seen firsthand how small boards that take the time to plan properly end up saving money, avoiding special asse