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By CondoAssociation.com • December 24, 2018

How often is a reserve study required?

If a 388 unit California HOA provided members a new reserve funding plan (3-year Reserve Funding Study) as described in California Civil Code Section 5550 is one still required for 2018? We always got them with the annual budget and the most recent 3--year Reserve Funding Study was timely done in 2015 (following 2012's, 2009's, 2006's, 2003's etc.). However, attached to the 2019 budget dated 12/1/18 was only the 2015 study's summary instead of a 2018 3-year reserve funding study or its summary. I can't find anything that ends the requirement for HOA's to prepare a 3-year reserve funding study and provide a summary or report to members.

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