Full study, update or desk review
| Level of service | What you get | Typical fee |
|---|---|---|
| Full study (Level I) | A new inventory of every component, a site inspection, cost and life estimates, and a funding plan. | The ranges in the table above |
| Update with a site visit (Level II) | The provider walks the property again and revises conditions, costs and the plan. | somewhere between 50 and 75 percent of a full study |
| Update without a visit (Level III) | Costs, inflation and the funding plan refreshed from the last study and your records. | a few hundred dollars up to about $1,000 |
The level names come from CAI's Reserve Study Standards. A board that has never had a study needs a full one. After that, most alternate visit updates with desk updates.
What pushes the fee up
- Height and structure. A concrete tower needs its balconies, facade, roof plant and garage assessed; some boards add a separate structural engineer's report alongside the study.
- Number of components, not homes. A 200-home HOA with one pool can cost less than a 60-unit condo with elevators, a seawall and a garage.
- Records. If nobody can find the last study, the plans or the roof warranty, the provider has to rebuild the inventory from scratch.
- Storm work. Repairs after Matthew or Ian may have reset the life of some components; untangling what was replaced, and when, takes time.
- Travel. Barrier islands and gated communities far from the provider's office can add a trip charge.
Coast or inland?
A study for a beachfront tower and one for a Greenville subdivision are different jobs. Here is what a coastal high-rise study has to count that an inland HOA study usually does not.
| Item | Coastal high-rise | Inland HOA |
|---|---|---|
| Building envelope | Stucco, sealant joints, impact windows and sliding doors, all aging faster in salt air | Vinyl or fiber-cement siding, shingle roofs, gutters |
| Structure | Concrete balconies and railings, spalling and rebar corrosion, parking garage decks | Usually none in reserves beyond decks, stairs and retaining walls |
| Beach and water | Dune walkovers, beach access stairs, seawalls or bulkheads | Stormwater ponds, dams, docks on a lake or lagoon |
| Mechanical | Elevators, fire pumps, generators, chillers, often on a roof in wind and spray | Pool pumps and heaters, gate operators, irrigation controllers |
| Grounds | Pool deck, cabanas, rooftop or podium paving | Private streets, sidewalks, mature trees, fences, playgrounds |
| Storm planning | Wind and flood deductibles, which can run to a percentage of the insured value | Tree removal and wind damage after storms that travel far inland, as Helene did |
What brings it down
- Send the last study, the budget, recent invoices for big repairs and the as-built plans before the visit.
- Ask for a three-year arrangement: a full study now and agreed fees for the updates.
- Ask two or three providers to price the same scope, so the proposals compare like with like.
How the fee compares with the budget
Take a 120-unit oceanfront condo with an illustrative annual budget of $900,000. A $12,000 study is about 1.3 percent of one year's budget, and it sets the size of a reserve contribution that will run for decades. This is an example only, not a real association.