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STATE OF NEVADA DEPARTMENT OF BUSINESS AND INDUSTRY - REAL ESTATE DIVISION OFFICE OF THE OMBUDSMAN FOR COMMON-INTEREST COMMUNITIES AND CONDOMINIUM HOTELS 1179 Fairview Drive, Suite E * Carson City,.

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In the state of California, most HOAs are required to conduct an on-site Reserve Study at least once every three years. Off-site reserve studies should be conducted annually.

Oregon Reserve Study Requirements Reserve Studies for Condominiums and Planned Communities are legally mandated in Oregon. Whether a condominium or a planned community, the statutory requirements for the reserve study are nearly identical, both are governed by the Oregon Revised Statutes.

A reserve study provides a current estimate of the costs of repairing and replacing major common area components (such as roofs or pavement) over the long term. Ideally, all major repair and replacement costs will be covered by funds set aside by the association as reserves, so that funds are there when needed.

There is no statutory requirement to conduct a reserve study and no statutory requirement to fund reserves. The unit owners' associations may adopt and amend budgets for revenues, expenditures, and reserves and impose and collect assessments for common expenses from unit owners. Section 34.08.

In short, Florida law generally requires condominium associations to have a reserve study performed once every three years.

At least every three years, an updated reserve study must be prepared and based upon a visual site inspection conducted by a reserve study professional.

The simple answer is yes, In Washington State an association must do a reserve study and update it annually unless it is exempt.

How often does my HOA require a Reserve Study? In the state of California, most HOAs are required to conduct an on-site Reserve Study at least once every three years. Off-site reserve studies should be conducted annually.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232