All posts by Building Reserves

About Building Reserves

An increasing number of states have approved legislation requiring community associations to perform reserve studies. California, Florida, Hawaii, Illinois, Nevada, Virginia, Washington, and Canada have most recently adopted such legislation. As municipalities increasingly choose community associations as the “development model,” other states expect to create stricter legislation to address the planning reserve issue. Legislatures are realizing the importance of reserve studies and will continue to pass legislation to ensure property owners perform reserve studies.