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Session Details | Learning Objectives | Speaker Information | Agenda | Credentials
The education program has been postponed.
– $35 for members (early)
– $45 for members (regular)
– $55 for nonmembers
Early registration discount ends one week before the event.
We keep hearing that Associations need a reserve study, but why do we and what do we do with them once they are done? Michelle Stephans, from Reserve Advisors, will detail he benefits of adequately funding reserves, what constitutes a reserve study per CAI standards, how reserve specialists conduct reserve studies and, most importantly, how to best utilize your reserve study in your day-to-day Association management. We will discuss which expenditures are typically funded through reserves, what the Minnesota statute says about reserves, and how to develop an integrated maintenance plan to maximize the useful life of your property components and reduce costs for the Association.
- Learn to recognize the benefits of adequately funding reserves
- Learn to know the two main components of a reserve study and identify typical reserve expenditures
- Learn to understand statutory requirements regarding reserves and learn how to best utilize your reserve study as a guideline for the Association
Michelle A. Stephans, P.E. PRA, RS, Director of Client Services, Northwest Region, Reserve Advisors
Michelle Stephans is the Director of Minnesota Operations at Reserve Advisors. She has been with Reserve Advisors for 10 years and is a licensed professional engineer in Minnesota, Wisconsin and Illinois. In addition, Michelle has her Reserve Specialist designation through CAI and has conducted over 300 reserve studies.
Reserve Advisors was founded in 1991, and Michelle opened the Minneapolis regional office in 2009. Reserve Advisors is the nation’s leading reserve study provider, serving over 500 associations in the Twin Cities metro area and over 7,000 associations nationwide. They have over 25 engineers from various engineering disciplines who conduct thorough onsite inspections and provide custom, comprehensive reports.
Michelle lives in Blaine with her husband, Ryan, and their two young daughters. She also serves on the Board for her own Association.
||Networking and Lunch
||Question & Answer Discussion
Professional Credentials & Real Estate Credits:
All CAI-MN events qualify toward earning and maintaining your professional credentials (CMCA, AMS, PCAM, etc.). Visit the Professional Credentials webpage to learn more! Click Here
Real Estate Credits:
CAI-MN submits application for Real Estate Credits with the state of Minnesota for each educational program.
Admission to all CAI-MN events requires advance registration either by mail, online, or in person. Individuals will not be admitted to an event without payment. Failure to attend an event does not constitute a cancellation of event registration and you will be charged for registering.