A Reserve Study includes two main parts, the physical assessment of common properties and a financial analysis of future expenses over the next 30 years.

Physical Assesment
The physical assesment contains information about the condition, repair and/or replacement cost of the property's common elements. The physical analysis includes a component inventory and quantities, estimated useful and remaining years, and estimated replacement costs.

Financial Assesment
This determines a recommended funding plan based on a schedule of future repair or replacement costs for each of the elements included in the study.