Reserve Study 2021

Sun Cove does a Reserve Study on our Assets every three years to assess what needs to be fixed and replaced. An outside independent contractor conducts a Reserve Study. They do a physical and financial analysis on our Common Property. According to Community Association Management, the benefits of a Reserve Study are: meets legal, fiduciary, and professional requirements; provides for planned replacement of major items; equalizes contribution for new and old owners; minimizes the need for special assessment; enhances resale value. Please see the attached Reserve Study for 2021, the items we addressed this year were: Clubhouse Carpet (saved $6969.15); Clubhouse Interior Paint (saved $1864.33); Office Carpet (saved $4223.36); Dock Lights (saved $25,240.24); Grounds Cart (saved $3579.76). Overall we were below the estimated replacement cost by $41,000.

LELA Reserve Study FINAL 2021.pdf

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