For years and years, reserve studies were not required by law. Only the responsible boards actually did them; everyone else skipped out. Thankfully, that is all changing. At the moment, about a dozen states have HOA reserve study requirements, and several more are drafting bills and implementing penalties for boards that ignore the rules. Here’s the story of why and whether your state requires them or not.
What Are The Common HOA Reserve Study Requirements?
HOA reserve study requirements vary by state. However, most of those rules were based on the same notion: associations need to understand what major repairs are coming and have a realistic plan to help pay for them.
Some of the most common requirements include:
- Covered components: The study should identify the major common-area components that will eventually need significant repair or replacement.
- Useful life and costs: Each covered component is examined and evaluated to estimate its remaining useful life and the expected cost of repair or replacement.
- Reserve funding: The study determines how much your HOA should set aside over time for future repairs. Some states require specific funding practices, while others primarily require the study itself. This suggestion should be considered during the annual budget planning process.
- Regular updates: Reserve studies should continue to be updated regularly. While rules may vary by state, your HOA will likely need periodic updates.
- Qualified professionals: Certain states specify who may perform the study and may require an engineer, architect, reserve specialist, or another qualified independent professional.
The exact rules can differ considerably, especially from state to state. Because of this, your board should always check the law that applies to their association. When trying to find out what states require a reserve study, make sure to review the current statute for your state, as the type of community and property involved can also influence which rules apply.
How it Started
In June of 2021, Champlain Towers South collapsed in Surfside, Florida. Many consider this arguably the most catastrophic structural failure in modern US history, and with it came the strictest reserve rules that the country had ever seen. Florida quickly began implementing regulations, and other states followed suit.
With this, Florida requires any condo or co-op building three stories or taller to complete a Structural Integrity Reserve Study, essentially a special inspection that covers the roof, load-bearing walls, fire protection, plumbing, electrical, and several other items, with a cost threshold adjusted for inflation (about $25,675 in 2026). Most associations had to complete their first study by the end of 2025, and they are required to conduct a new study every 10 years.
There are two other key provisions. For any budget adopted on or after January 1, 2025, owners can no longer waive or reduce funding for any of those structural components, closing loopholes that boards had used for decades. And any leadership that willfully fails to complete a required study can be held personally liable for breaching their fiduciary duty, placing the onus not only on the association but also squarely on the individuals behind it.
The States That Followed
New Jersey was the first to follow Florida’s lead. A 2024 law, updated again in August of 2025, requires reserve studies for all condominiums and cooperatives, as well as for some planned developments. Note the difference between this and the Florida laws: New Jersey did not stop at high-rises.
As mentioned, roughly a dozen states now require reserve studies or some sort of reserve schedule. Beyond Florida and New Jersey, these include California, Colorado, Delaware, Hawaii, Maryland, Nevada, Oregon, Tennessee, Utah, Virginia, and Washington, but the details vary widely among them. Virginia operates on a five-year cycle, and California requires studies but does not mandate funding levels. If your community falls under one of these states, it is best to review the specific statute. Always better safe than sorry.
No Law in Your State? You Are Not Off the Hook
Most states still don’t have any legal requirements, but three external forces are slowly beginning to impose rules anyway. The first is lenders. Fannie Mae and Freddie Mac have tightened their standards for condo loans, and buildings without up-to-date studies are a difficult sell. Insurers also request reserve documentation during underwriting and price accordingly.
Finally, buyers are beginning to ask. A board that skips the study because the law allows it still isn’t doing itself any favors. Our recommendation? Keep your study up to date. It’ll save you money and time in the long run.
What Boards Should Do With This
The best way to start is to just find out which rules actually apply to you. The answer changes state by state, building by building, law by law. After that, check your last study against the most up-to-date requirement. It’s important to note that a standard reserve study does not automatically satisfy a structural integrity mandate.
If your community is professionally managed, your management company should be tracking all of this without you having to ask them. It’s part of what you pay them for, and if the “management” company can’t manage effectively, they’re really not doing their job. Make sure to check in with them and confirm that they are handling everything. If they’re not, it is very telling.
Planning Ahead and Compliance
HOA reserve study requirements will vary widely across the United States. Nevertheless, all of these requirements reflect the need for board members to expect and plan more carefully for the HOA’s future.
HOA Explore offers a convenient way for community associations to find support from the right professional HOA management company. Use our online directory today!
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