Is a reserve study mandatory in Washington State?

In Washington State, both condominium and homeowners’ associations are expected to maintain their shared property and plan responsibly for future expenses through reserve studies and funding. Under RCW 64.34.380, condominium associations must prepare and update a reserve study annually, with a full, professional reserve study required at least every three years. This includes identifying major components, estimating remaining useful life, and calculating the funding needed to repair or replace those components. Similarly, RCW 64.38.065 encourages HOAs to conduct reserve studies using the same standards. While not mandatory for every HOA, it is considered best practice for transparency and financial health.

The more recent RCW 64.90, part of the Washington Uniform Common Interest Ownership Act (WUCIOA), governs many newer communities (formed after July 1, 2018) and aligns closely with RCW 64.34. It requires regular reserve studies and mandates disclosure of funding plans to unit owners. Associations must distribute the most recent reserve study summary to members annually and disclose whether they are setting aside adequate reserves. While associations can vote to waive reserve contributions, doing so may lead to deferred maintenance or special assessments—both of which can negatively impact property values and homeowner trust.

Even beyond compliance with state law, maintaining an up-to-date reserve study is a key strategy for protecting your community’s long-term health. A professional study every three years, paired with annual updates and transparent communication with members, helps boards anticipate large expenses, avoid financial surprises, and ensure fair contributions from all owners. Whether your community is governed under RCW 64.34, RCW 64.38, or RCW 64.90, proactive reserve planning is one of the best investments a board can make.

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