NAICS Code 531110-11 - Condominium Reserve Fund Studies

Marketing Level - NAICS 8-Digit

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NAICS CODE 531110-11
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NAICS Code 531110-11 Description (8-Digit)

Condominium Reserve Fund Studies is a subdivision of the Lessors of Residential Buildings and Dwellings industry that involves the assessment of the financial needs of a condominium corporation. This industry is responsible for conducting studies to determine the amount of money required to maintain and repair common elements of a condominium building. The studies are conducted to ensure that the condominium corporation has sufficient funds to cover the cost of future repairs and replacements of common elements.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 531110 page

Tools

Tools commonly used in the Condominium Reserve Fund Studies industry for day-to-day tasks and operations.

  • Reserve Fund Planner
  • Financial Analysis Software
  • Building Inspection Tools
  • Cost Estimation Software
  • Accounting Software
  • Project Management Software
  • Spreadsheet Software
  • Building Maintenance Software
  • Investment Analysis Software
  • Risk Assessment Tools

Industry Examples of Condominium Reserve Fund Studies

Common products and services typical of NAICS Code 531110-11, illustrating the main business activities and contributions to the market.

  • Reserve Fund Studies
  • Condominium Reserve Planning
  • Reserve Fund Analysis
  • Building Maintenance Planning
  • Financial Planning for Condominiums
  • Reserve Fund Budgeting
  • Condominium Reserve Fund Forecasting
  • Capital Planning for Condominiums
  • Reserve Fund Management
  • Condominium Reserve Fund Consulting

History

A concise historical narrative of NAICS Code 531110-11 covering global milestones and recent developments within the United States.

  • The industry of Condominium Reserve Fund Studies has been around for several decades, with the first studies being conducted in the 1970s. These studies were initially conducted in Canada, where the government mandated that all condominium corporations must have a reserve fund study completed every three years. This requirement was later adopted in the United States, where the industry has continued to grow. In recent years, the industry has seen advancements in technology, with the use of specialized software to conduct reserve fund studies becoming more common. Additionally, there has been an increased focus on sustainability and energy efficiency in the industry, with many studies now including recommendations for green initiatives.