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A reserve fund study is a report that assists condominium corporations in understanding what they own, their financial resources, the timing of potential replacements, future costs, and how to finance these replacements when due. CubeDrive helps condominium managers easily translate their reserve fund study from Excel to an online application.


Why Online Reserve Fund Study

The key benefits of conducting Reserve Fund Study online are the real-time updates and the ability to manipulate data to see how different funding scenarios might affect the reserve's health. It allows technicians access to the data from any device, anywhere, anytime, and simplifies the process of managing the reserve fund study.






From Excel to Online Applications

Using CubeDrive, property managers can create online reserve fund study with a drag-and-drop method, and ensure that they have enough capital to cover expenses when they arise. CubeDrive moves the reserve fund study from Excel to a dynamic, accessible online application, enabling fine-grained control over data access and efficient management of the reserve fund​.



Reports

Property managers can easily generate the reserve fund report and share it with board members online. At the same time, Form 15, future fund reports, and financial reports can also be directly generated from the online system. This provides a quick solution for the business to manage their funds.






Data access with APIs

CubeDrive APIs can directly connect with the business's existing data using RESTful services, allowing property managers to easily integrate their existing data and create customized reserve fund studies.


Secure Online Reserve Fund Study

Sync Edit

Multiple engineers can sync edit the reserve fund data at the same time.

Lots of Features

Business can share the data, generate reports, analyze data and many more.

Customizable

CubeDrive developers work closely with clients to build a customizable online reserve fund study.

Data Security

CubeDrive provides an on-premise system running on your server. You control all of your organization data.

Existing Excel problem

In general, the reserve fund study is prepared by the engineer. Engineers will utilize a Reserve Fund Study template, frequently a complex Excel spreadsheet with many algorithms. Engineers will input data and supplement this document with a detailed narrative that analyses and reports the building’s condition.

Here comes some issues for the existing Excel solution:

  • Multiple engineers can not enter data at the same time.
  • Customers can not access the data from any device, anytime, anywhere.
  • Change the Excel template will involve in lots of update work.
  • Can not set the fine grained control for the data access.
  • Not time and cost effectively.

Reserve fund study Online Solution

CubeDrive helps the engineer move the reserve fund study from Excel to online application with ease. It allows customers easily access the data from any device, anytime, anywhere with the fine grained control. And all data can be exported as MS Excel. With CubeDrive form and flow, managing your reserve funds accurately has never been easier.

chart Tip: Different engineers can enter the data separately, even with their mobile, and a reserve fund study report can be generated automatically online.

Create different forms

Before business creates the project and put all data together, they need generate the related applications. In this example, the following forms are created:

  • Condo list - A form includes all the condo which will be used for the Reserve Fund Study.
    • condo Tip: Condo list form is the data source of the project which will be used for generate report, such as: Year build, name etc.
  • Mechanical system - For each condo, this form lists the mechanical costs related to the different Mechanical Type.
  • Civil architectural - For each condo, this form lists the civil architectural costs to the different Architectural Type.
  • Electrical system - For each condo, this form lists the electrical costs for the different Electrical Type.
  • Mechanical Type - list all the Mechanical Types for the condo.
  • Civil Type - list all the Architectural Types for the condo.
  • Electrical Type - list all the Electrical Types for the condo.

Create project

Login to the CubeDrive account, manager needs to click Kanban management icon on the sidebar to start building the reserve fund study with a drag and drop method. See the following example for the existing one.

  • Left panel lists all condoes which will be used to generate the Reserve fund study.
  • Central panel lists the detail information related to the selected condo. For example, click "CIVIL, ARCHITECTURAL" will popup all the civil data relate to this condo.
  • Manager can easily view the amount of items for each type.

Generate Reserve Fund Study report

With all the raw data input into the system by the engineers, the manager will be able to generate the Reserve Fund Study report.

chart

Click the "Generate report" link, the system will extract the related information from the above forms and generate an online spreadsheet with customer required format for future reference. Customers can export it as a MS Excel file.

chart

Reserve Fund Study FAQs

Our software provides an intuitive online platform where condominium corporations can input, manage, and analyze data about their assets, current financial status, and anticipated future expenses. The tool automatically calculates the necessary reserve fund contributions and creates timelines for replacements, offering a clear, strategic financial plan tailored to your specific needs. Reserve fund study reports can be generated online and shared among stakeholders, eliminating the need for basic MS Excel use.

CubeDrive provides a flexibility way for the business to customize their reserve fund study.

Platform Capabilities: CubeDrive offers extensive customization options. As a no-code platform, it enables businesses to model, design, and develop their business logic. Businesses can easily change layouts, color schemes, user interface elements, and even functionality through configuration.

Development Resources: CubeDrive has a team of skilled developers, including some with experience in UI/UX design, which allows for a broader scope of customization. Generally, our developers work closely with our clients to extend the capabilities of CubeDrive, tailoring the portal to meet specific client needs.

Quick Response: The CubeDrive team always prioritizes client needs. We use the Scrum methodology and frequently update processes promptly. During business hours, we generally respond to client emails within 2-4 hours. Any updates we make are typically released on the next business day.

Scalability and Maintenance: CubeDrive also offers scalability for future expansion and ease of maintenance.

In summary, our developers, including the UI/UX designer, will work closely with clients to finalize the reserve fund study.

Yes, our software can be integrated with most major financial management tools. This allows for seamless data transfer and helps maintain consistency across all financial records, enhancing both efficiency and accuracy in financial planning.

Yes, our software is designed to facilitate collaboration. You can easily share the online study with board members, property managers, and financial advisors. Each authorized user can access the study from anywhere, providing flexibility and ensuring all stakeholders are informed and can contribute to the decision-making process.

Yes, CubeDrive platforms that facilitate reserve fund studies enable stakeholders, such as property owners and board members, to access the reports online. This ensures transparency and aids in collaborative planning and budgeting. Additionally, stakeholders do not need to have MS Excel installed; they only require a browser with internet access.

Data security is a top priority for us. We use industry-standard encryption and robust security protocols to protect all the information you enter into our software. Regular security audits and compliance checks ensure that your data remains secure and confidential.

CubeDrive offers an Enterprise Solution that allows you to run a Reserve Fund Study on your own server easily. You will need to have one or more dedicated servers (e.g., an AWS server) equipped with Ubuntu 20.04 64-bit, one IP address, and one domain or sub-domain name ready. Our developers can remotely log into your server and install the package. Alternatively, you can install the package yourself by following our documentation. And your business will control all of your data.

It is generally recommended that reserve fund studies be updated every three to five years, or whenever significant changes to the property or financial situation occur. Our software makes it easy to update your study, ensuring that you always have the most current and relevant financial information at your fingertips.

Our dedicated customer support team is available via phone, email, and live chat to help with any questions or issues you may encounter. We also offer troubleshooting assistance and can provide on-site support if necessary to ensure you have all the help you need to make the most of our software.