·       Our Level I Reserve Study is performed if no reserve study has been done or if a reserve study has been done by another engineering firm. It includes determining component inventory and quantities of common elements, conducting a site inspection and condition assessment of the comment elements to determine their current condition and estimated useful life, and conducting a financial analysis including fund status and funding plan for the reserve.  A comprehensive narrative report with detailed descriptions, condition, and recommendations of all common elements as well as 30-year reserve cost projections (including the cost of annual projected maintenance) is provided. A review of the most recent reserve study is performed but not relied on if performed by others.

·       Our Level II Reserve Study Update is performed if a prior reserve study has been done by Modern within the past five years. It includes a review of the common elements to determine if there have been changes to the quantities or additions that need to be included due to anticipation of replacement within the upcoming 30 years. We do still conduct a site inspection and condition assessment of the comment elements to determine their current condition and estimated useful life, and conduct a financial analysis including fund status and funding plan for the reserve. A comprehensive narrative report with detailed descriptions, condition, and recommendations of all common elements as well as 30-year reserve cost projections (including the cost of annual projected maintenance) is provided.