Right-Sizing Funding & Coverage for a Timeshare on Florida’s Atlantic Coast

Client Background
A 177-unit, 5-story, 50-year-old timeshare on Florida’s Atlantic Coast needed updated SIRS, TRS (Level I), and Replacement Cost Valuation (RCV) reports to align with new State requirements and accurate insurance coverage.

Challenge
The property was working from a seven-year-old reserve study, resulting in major underfunding. Storm damage exposed insufficient insurance coverage, forcing a prorated claim and an additional special assessment to cover the deductible.

Our Approach
Alliance Reserve Services conducted a full reassessment to restore funding accuracy and insurance compliance.

• Completed a new SIRS, Level I TRS, and RCV reflecting true replacement costs.
  
• Updated all components and funding schedules based on current labor and material pricing.
  
• Developed a compliance plan that met DBPR and insurer standards.
  

Solution Delivered
An updated set of SIRS, TRS, and RCV reports that corrected underinsurance and established accurate, sustainable contribution levels for future planning.

Results
✔️ Accurate insurance coverage established.
✔️ Stabilized owner contributions.
✔️ Eliminated need for future special assessments.
✔️ Compliance achieved with State regulations.

Key Takeaway
With accurate reserve and valuation data, the timeshare achieved full compliance and financial stability after years of underfunding.