We believe that all associations should use a reserve study to plan help for the future expenses they will invariably face. Over the last five years a number of states have taken the proactive step in establishing requirements for reserve studies. The latest addtion to the list of states which now have reserve study related legislation is Maryland. Maryland has now passed legislation that will require condominium and homeowner associations to conduct reserve studies. The new law will require all associations to undertake a reserve study before October 1, 2018 and then every 5 years thereafter.
MARYLAND RESERVE STUDY
Maryland’s reserve study law is set to impact associations across the state. We recommend you call a Reserve Specialist to talk further about the requirements and the general process of undertaking a reserve study. Call us if you have questions or would like to talk more on this topic. To read more – http://buff.ly/2obQ2zS