the components create the foundation for the entire reserve study.
Be honest and realistic with upcoming maintenance needs.
Component reports identify the specific maintenance obligations (components), groups them into categories, and assigns estimated lives and costs. It is important to identify major systems and assets belonging to the community without going into minutia and unnecessary detail. It's important to keep in mind the big picture, that we are estimating expenses over the next 30 years, not keeping an inventory of every single thing the association owns.