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PHYSICAL ANALYSIS

The physical analysis is a detailed review of the condition of all common area components managed by the HOA. It includes:

Component Inventory

  • Identifies and lists all common elements (e.g., roofs, swimming pools, parking lots, landscaping).

  • Provides descriptions, quantities, and the locations of each item.
     

Condition Assessment

  • Inspects and documents the current condition of each item.

  • Notes wear, deterioration, and required maintenance or repairs.
     

Useful Life Estimation

  • Determines the expected lifespan of each component (e.g., how many years a roof typically lasts).

  • Calculates how many years remain before the component will need replacing or major repairs.
     

Replacement Cost Estimation

  • Estimates the current and future cost to replace or repair each component based on market conditions and inflation.

FINANCIAL ANALYSIS

The financial analysis evaluates the HOA’s ability to financially manage the upkeep of common areas. It includes:

Review of Current Financial Status

  • Examines current reserve balances.

  • Analyzes existing revenue streams (membership dues, assessments).

  • Assesses annual expenses related to maintenance and repairs.
     

Reserve Fund Adequacy

  • Evaluates whether current reserve funds are sufficient to cover future planned expenses.

  • Highlights any shortfall in funds or potential financial risks.
     

Funding Plan Development

  • Proposes a detailed multi-year funding strategy to ensure adequate reserves.

  • Suggests appropriate levels of homeowner assessments to maintain stable reserves.

  • Recommends gradual funding adjustments to avoid sudden special assessments.
     

Long-Term Financial Projection

  • Provides a 20-to-30-year financial forecast.

  • Helps HOA boards visualize long-term financial obligations clearly.

A DIFFERENT APPROACH TO RESERVE STUDIES

Most reserve studies leave boards with lengthy, data-heavy reports and little guidance. Hennessy Reserve Partners' approach adds a leadership layer: actionable, board-friendly plans paired with in-depth analysis. We also incorporate invasive building assessments to provide a clearer, more complete picture of your property’s condition.

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The Reserve Leadership Package prepared by Hennessy Reserve Partners is a comprehensive, board-focused capital planning service designed to help associations lead with confidence. It goes beyond a traditional reserve study by pairing expert analysis with clear, actionable guidance and ongoing support.

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This approach is built to help boards move from reactive management to proactive leadership — ensuring your community stays financially prepared, structurally sound, and well-positioned for the future.

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Have more questions? Read our Reserve Studies FAQs for more info.

PRICING

Please fill out the form below to request a custom proposal for your association's needs.

RESERVE STUDIES IN RHODE ISLAND

One of the most important responsibilities of any common interest community is planning for the future. A reserve study is a detailed financial planning tool used by homeowners associations (HOAs), condominium associations, and common interest communities to prepare for future major expenses. Hennessy Reserve Partners prepare reserve studies by assessing the condition and lifespan of shared community assets (like roofs, pools, roads, landscaping, and common areas). We then estimate the cost of maintaining or replacing them over time. Hennessy Reserve Partners makes the reserve study process easier on the board by providing a proactive reserve plan.

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