Level II

Update: With-Site-Visit On-Site Review

Level II

Update, On-Site Inspection: A reserve study in which the following five tasks are performed:

  • Component Inventory (verification only, not quantification)
  • Condition Assessment (based upon on-site visual observations)
  • Life & Valuation Estimates
  • Fund Status
  • Funding Plan

A Level II Reserve Study includes an on-site inspection. We greatly encourage board members and/or community managers to attend site inspections. The more we know about your community, the better we can help you prepare for the future. Upcoming renovations? Project just about underway? Your reserve study should reflect recent past, present, and known upcoming expenses.

Do I need a Level I or Level II Reserve Study?
Once great care and time have been spent counting and measuring an association’s components it can be argued; how many times does someone need to recount and measure those same components?  If your existing reserve study has trustworthy quantities of the common area components, then a Level II is likely for you! The only difference between a Level I and II is a Level II does not quantify the components and will save the association money. A Level II Reserve Study satisfies the California Civil Code with respect to the on-site inspection requirement every three years (§5550).