Oregon reserve study laws and requirements

In Oregon, reserve study requirements are outlined in the Oregon Condominium Act (ORS 100.175) for condominiums and ORS 94.595 for planned communities (homeowners associations). While the law doesn’t explicitly require a formal reserve study by a professional, it does require associations to maintain a written maintenance plan that includes a reserve funding analysis. This analysis must estimate the useful life and replacement costs of major components such as roofs, siding, paving, and other shared infrastructure. Associations must also update this plan annually and incorporate it into their budgeting process.

For both condos and HOAs, Oregon law also requires that the annual budget disclose reserve contribution levels and outline the impact of not adequately funding reserves. This legal framework encourages associations to take a long-term view of their financial responsibilities—even though it stops short of mandating specific funding thresholds or study intervals. As a result, while some communities commission full professional reserve studies every few years, others may rely on internal assessments, leading to varying levels of financial preparedness across the state.

While Oregon law provides flexibility in how reserve planning is conducted. Updating the study annually during the budget process ensures that contributions remain aligned with real-world needs, helping associations avoid deferred maintenance, large special assessments, and financial surprises. Clear communication of reserve plans to homeowners also builds trust and supports long-term property values.