States That Require Reserve Studies / Schedules for Condominium Associations

List of States That Require Reserve Studies / Schedules for Condominium Associations

Reserve studies (also called reserve schedules) are an essential tool for condominium associations to plan for the repair, replacement, and maintenance of common elements. They help boards anticipate costs, maintain property values, and avoid unexpected financial shortfalls.

Across the United States, not all states require reserve studies by law, but a handful have statutory requirements. If your association is located in one of these states, it’s important to understand your obligations:

States With Mandatory Reserve Studies / Schedules

1. California
2. Colorado
3. Delaware
4. Florida
5. Hawaii
6. Maryland
7. New Jersey
8. Nevada
9. Oregon
10. Tennessee
11. Utah
12. Virginia
13. Washington – Statutorily encourages associations to have a reserve study performed every 3 years unless doing so would impose an unreasonable hardship.

Why Reserve Studies Matter

• Financial Planning: Associations can budget more accurately for future repairs and replacements.
• Protect Property Values: Well-funded reserves prevent deferred maintenance and deterioration of common areas.
• Transparency for Owners: Reserve studies help owners understand the association’s financial health and potential future assessments.

Protect Your Condo’s Future Today

If your association is located in one of these 13 states, conducting a reserve study is not just best practice, it’s often a legal requirement. Even if your state doesn’t mandate one, a reserve study is a smart investment in your property’s long-term health and stability. Request a no cost no obligation Proposal to ensure your association is financially prepared for repairs and replacements. Schedule a professional reserve study now to plan ahead, maintain property values, and stay compliant with state requirements.

‍

Source: Community Associations Institute Summary of State Reserve Fund Laws

Note: This information is for informational purposes and is not intended to provide legal advice.

‍

‍

‍