PRA & RFA Pro Consultants and Reserve Studies/RMPs
PRA (Property Reserve Analysis), United States, and RFA Pro (Reserve Financial Analysis), Canada, System Consultants are certified reserve study professionals licensed and trained in implementing the PRA and RFA Pro System for preparing the highest quality and most accurate Certified Reserve Studies/Reserve Management Plans available. The PRA and RFA Pro Systems are the only reserve management plan preparation software that has been evaluated by a Certified Public Accounting firm for accuracy of calculations while meeting AICPA requirements for reporting (see CPA Evaluated). The system is designed to complement properties with different ownership formats: wholly-owned, 1/52 through 1/4 shares, points, entitlements and unit percentages.
PRA and RFA Pro Consultants utilize property plat maps and model floor plans (when working with vacation ownership/timeshare properties) for planning and scoping how reserve items will be grouped, budgeted and tracked based on the property's common areas, building and unit configurations. This provides the foundation for a Reserve Study/Reserve Management Plan with financial support that is easy to understand and provides optimized contributions while projecting that sufficient reserve funds will be available when needed in the future.
Based on monthly cash flow projections providing the availability of reserve funds, proper investing can be achieved for maximizing returns. Once the Reserve Study/Reserve Management Plan is finalized, the database is available to the association upon licensing of the PRA System.