If you are considering revisions to your New Jersey reserve study, you need to look for the right engineer to work with. Upon reviewing proposals from different structural engineering firms, it is important to consider a wide range of factors, such as the unique cost associated with services from the reserve study provider. The following questions should help you in your decision making process when you choosing a reserve study provider.
First of all, you need ask the provider about their background and experience. You need to find out if they are engineers and architects, and also ask them about their credentials. Find out how many reserve studies the firm conducted in the last year, and also in the last five years. Do not forget to ask for employee qualifications in the proposal.
Another thing you need to do when looking for the right New Jersey reserve study provider is find out what organizations the firm belongs to that helps you in conducting the reserve studies. These may include the Community Associations Institute or the Association of Professional Reserve Analysts. Other trade associations to consider include the American Association of Cost Engineers, Refrigerating and Air-Conditioning Engineers (ASHRAE), American Society of Heating and Association of Construction Inspectors, and so on.
You also need to find out if the New Jersey reserve study provider you are considering complies with APRA and CAI basic requirements for a reserve study. Find out if both the engineering and financial components of the reserve study included, as required by both APRA and CAI. A good reserve study should include useful life, inventory of common elements, future replacement costs, remaining useful life, as well as a funding plan to set up sufficient reserves.