IREM Certified Property Manager (CPM) Practice Test 2026 – All-in-One Guide to Exam Success!

Having a professional vendor conduct reserve studies is advisable primarily because they possess the technical expertise required for accurate results. An accurate reserve study involves a thorough understanding of various factors, including local building codes, construction methodologies, and the useful life of different components of a property. Professionals who specialize in reserve studies have the training and experience necessary to assess these factors comprehensively.

Furthermore, they can provide detailed assessments based on industry standards and best practices, ensuring that the projections are realistic and align with the specific needs of the property. This level of expertise helps property management make informed decisions regarding budgeting and planning for future capital expenditures.

While other factors such as cost-effectiveness or liability management may also be considerations, the primary reason for engaging professionals is their specialized knowledge that leads to more reliable and accurate reserve studies.