The asset register
Boilers, lifts, roofs and pumps — what they cost, when they were serviced, when the warranty runs out.
For associationsRecord the things that are expensive to replace and easy to forget about until they fail.
- Serial number and where it is
- When it was installed and its expected useful life
- What it would cost to replace
- When it was last serviced
- Warranty provider and expiry
Why it matters more than it looks
This is where a reserve study starts. A reserve projection is arithmetic over a list of assets with replacement costs and remaining lives — without the list, the projection is a guess, and a board that guesses is a board that under-funds.