Which States Require HOA Reserve Studies, and How Often?

Reserve study requirements by state are a patchwork. A handful of states require community associations to have a reserve study on a fixed schedule. Others require a study only for condominiums, require associations to have a policy, or simply encourage one. Many have no requirement at all. And since the Surfside collapse in 2021, several states have tightened their rules, so older lists on the internet are often out of date.

I build the funding engine that sits inside reserve studies, and I put this guide together from state statutes and compliance summaries. Where sources disagree, I say so. Before acting, confirm the current law for your state with your association's attorney.

Here is what matters most:

• California, Florida, Nevada, New Jersey, Virginia, Maryland and Utah are among the states with clear statutory reserve study requirements for some or all associations, each on its own schedule.
• Schedules range from every three years (California, with a yearly review) to every five years (Nevada, New Jersey, Virginia, Maryland) and every 10 years (Florida's structural integrity reserve study).
• Some states, such as Colorado, require a reserve study policy rather than a study itself. Others, such as Washington, have rules that summaries describe differently, so check the statute.
• Even where no law applies, lenders and buyers look at reserves. Fannie Mae's condo reserve minimum rises to 15% of the budget for loan applications from January 4, 2027.
• No state law tells you whether your fund is healthy. Percent funded and the 30-year cash flow do.

States with clear reserve study requirements

California. Civil Code section 5550 requires a reserve study with a visual inspection of major components at least every three years, with the board reviewing it every year. Summaries note the requirement applies once replacement reserves reach a set share of the budget. The board must also disclose reserve funding information to owners.

Florida. Condominium buildings three or more habitable stories tall need a structural integrity reserve study at least every 10 years, and reserves for those structural items cannot be waived. Florida also has general reserve rules for condominiums and milestone inspection requirements. See our guide to the Florida SIRS report.

Nevada. NRS 116.31152 requires the executive board to have a study of the reserves conducted at least once every five years, reviewed annually, by a qualified permit holder, with a limited exception for small communities.

New Jersey. P.L.2023, c.214 requires a capital reserve study conducted and reviewed at least once every five years with a proposed 30-year funding plan, reviewed by a licensed architect, licensed engineer or credentialed reserve specialist. See our guide to New Jersey condo law.

Virginia. Virginia's condominium and property owners' association acts require a reserve study at least every five years, with an annual review of reserve adequacy. A 2024 amendment added a statutory definition of a reserve study.

Maryland. Maryland requires reserve studies for condominiums and homeowners associations on a five-year cycle under a law that expanded earlier county requirements statewide, with exemptions for associations with small common area assets. Summaries differ on details, so check the current statute.

Utah. Utah requires a reserve analysis, with periodic updates. Summaries give different intervals, so read the current Utah Code.

States with partial or softer requirements

Colorado. The Colorado Common Interest Ownership Act requires associations to adopt a written policy on whether and how often a reserve study is conducted, rather than mandating a study.

Washington. Washington's condominium and common interest community laws include reserve study provisions, but summaries describe them differently: some say a study with a professional site visit every three years is required, others say it is encouraged unless it would cause unreasonable hardship. Check the current RCW for your type of association.

Hawaii, Oregon and Delaware. These states have reserve provisions, mainly for condominiums, covering budgets or reserve studies. The details vary by type of association.

States with no general requirement

Many states, including Texas, have no general statutory requirement for HOA reserve studies. That does not mean associations there can ignore reserves. Governing documents often require them, lenders review them, buyers ask about them, and a board that underfunds reserves can face claims from owners when a special assessment arrives.

Why the patchwork matters less than it looks

A legal requirement sets a minimum schedule. It does not tell you whether your contributions are enough. Two associations in the same state, both compliant, can be in very different shape: one at 80% funded, one at 20% with a roof due in four years.

The questions that matter are the same everywhere:

1. When was your last study, and at what level?
2. What is your percent funded today?
3. In which year does your 30-year cash flow go negative at your current contribution?
4. What contribution keeps it positive, and what contribution reaches full funding?

You can answer questions 2 to 4 in a few minutes with our free HOA reserve fund calculator, using the numbers from your last study.

Questions to ask your reserve preparer about your state

A good preparer knows the rules where they work. Before you sign a proposal, ask:

• Which statute applies to our type of association, condominium or homeowners association, and what schedule does it set?
• Does our state require a specific credential for the person who prepares or signs the study?
• Does the law require us to disclose the study, or a summary, to owners or buyers, and in what form?
• Are there funding rules, such as a ban on waiving reserves for certain items, that limit the plans we can choose?

Frequently asked questions

Which states require reserve studies for HOAs?

States with clear statutory requirements for some or all associations include California, Florida, Nevada, New Jersey, Virginia, Maryland and Utah. Colorado requires a reserve study policy, and Washington, Hawaii, Oregon and Delaware have reserve provisions mainly for condominiums. Requirements change often, so confirm with your attorney.

How often is a reserve study required?

It depends on the state. California requires a site inspection at least every three years with an annual review. Nevada, New Jersey, Virginia and Maryland use five-year cycles. Florida requires a structural integrity reserve study at least every 10 years for condo buildings three or more stories tall.

Does Texas require HOA reserve studies?

Texas has no general statutory requirement for HOA reserve studies. Associations may still be required to maintain reserves by their governing documents, and lenders and buyers look at reserve funding.

What if my state does not require a reserve study?

Most reserve professionals still recommend one, updated every three to five years. Without one, the board has no basis for setting contributions, and owners are more likely to face special assessments when major components fail.

For reserve study firms

New state laws mean more associations need studies on fixed schedules. If reporting is your bottleneck, our engine drafts the full study from inspector notes and photos in your template, with the funding plans calculated for your professional to review. See AI reserve study software.