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At Global Solution Partners, we are committed to delivering property management solutions designed to address the unique requirements of each client.

Reserve Studies

Insurance Appraisals

Property Condition Assessments

Transition Studies

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Got a question?
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Here are some of our most frequently asked questions. For a comprehensive list, please visit our FAQ page. Should you have any further inquiries, feel free to contact us through the email link provided below.

General Questions

What is a reserve study?

A reserve study is a long-term capital budget planning tool that identifies the current status of the reserve fund and provides a funding plan for future capital expenditures over a set period, typically 20-30 years. It is commonly used by homeowners associations (HOAs), condominiums, and other managed communities.

What is an insurance appraisal?

An insurance appraisal is an evaluation of a property’s replacement cost, used by insurance companies to determine the appropriate amount of coverage. It focuses on the cost to replace the building and other insurable items in the event of a total loss.

What is a transition study?

A transition study is an assessment conducted for a community association to identify construction defects or deficiencies as the developer transfers control of the association to the homeowners. It serves to protect the interests of the homeowners by ensuring any necessary repairs are identified and addressed by the developer before the transition.

What is a property condition assessment (PCA)?

A PCA is a comprehensive review of a building’s systems, structure, and components to evaluate its current condition. It identifies significant defects, deferred maintenance issues, and potential future expenses.

Are these studies and assessments legally required?

Requirements vary by location and the type of property. Reserve studies are often mandated for community associations in many states. Insurance appraisals are usually required by insurers. Transition studies and PCAs are not typically legally required but are highly recommended to protect stakeholders’ interests.