HOA and Condo Reserve Study Laws & Compliance Guide
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What is a Reserve Study and why is it required?
A reserve study is an essential planning tool that evaluates the condition of major assets and estimates the funds needed for future repairs. Required by law in many states, reserve studies protect the financial health of both HOAs and condominium associations. Understanding your legal responsibilities can prevent underfunded reserves and special assessments.
How to stay compliant with Reserve Study Laws
- Conduct regular reserve studies.
- Monitor and adjust reserve fund contributions.
- Stay updated on state-specific legal changes
HOA and condominium reserve fund laws: state-by-state
Each state has its own regulations for reserve studies and reserve funds. Below, find a breakdown of state-specific laws governing reserve study frequency, reserve fund requirements, and compliance standards for HOAs and condominium associations.
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