While it is not practical to list every step and every detail, following is a summary of the major steps taken in preparing a Level I Reserve Study:

1. First, we obtain copies of any prior reserve studies in order to obtain a preliminary list of components to include in the new reserve study. This information, along with any measurements provided is compared to the data we obtain from our own property inspection.
2. We visit the association's website, if any, to gather any relevant documents or other relevant information.
3. Next we gather from the board or management company the following:

   • Any contract proposals or existing contracts for major repairs or replacements covering components to be included in the reserve study,

   • Any information available about major repairs or replacements that are under consideration or needed, and

   • The CC&Rs of the association.

4. After collecting the necessary documents, materials, and information, the common areas are inspected by one of our staff who will have a minimum of ten years of construction and cost estimating experience. While not required, the inspection will take place with the property manager or a board member.
5. Photos will then be taken of the common areas and any reserve components needing immediate repairs or replacements.
6. Next, an estimate of the remaining useful life of each reserve component is made.
7. An estimate of the current cost of replacing each component included in the reserve study will be made based upon both our physical inspection and industry data.
8. Next, a draft of the report will be reviewed by one of our senior staff members who has at least 20 years of experience working as a general contractor.
9. The report then be sent to all of the board members for their review and any comments before it is finalized.