-- Reserve Study Requirements
Who needs a Reserve Study.
Colorado does not require HOAs or condominium associations to conduct a reserve study by law.
How often do you need to update a Reserve Study.
There is no legal requirement, but it’s generally recommended to update reserve studies every 3 to 5 years.
Additional Information
Colorado law requires associations to adopt a policy on reserve fund use and funding, even though reserve studies themselves are not mandatory.
Serving the Northeast
Serving the Great Lakes
Serving the Mountain
Serving the Southeast
Serving the Pacific West
Salt Lake City
- 222 South Main St
Suite 500
Salt Lake City UT 84101 - Phone: 888.315.2843
Fax: 888.316.4587
Email: mail@reservestudygroup.com
We focus on the detail and the big picture.
Our reserve study approach is simple. We provide you with the insight needed to make fast, accurate and informed decisions. We focus on understanding your situation and providing funding solutions that are designed with your goals in mind.
-- Reserve Study Requirements
Legislation
Colorado does not mandate that homeowners or condominium associations conduct reserve studies. However, under the Colorado Common Interest Ownership Act (CCIOA), specifically Section 38-33.3-209.5, associations are required to adopt a policy regarding the use and funding of reserve accounts. This policy must outline whether the association conducts reserve studies, how frequently they are performed, and how funding plans are determined. While reserve studies are not legally required, CCIOA emphasizes transparent financial planning and encourages associations to evaluate the long-term maintenance needs of their common elements. Many associations in Colorado voluntarily conduct reserve studies every 3 to 5 years to follow best practices and ensure financial preparedness.
Sample Reserve Study Report
Our reports are designed to create an accurate and clear illustration of the Association’s financial and physical standing. We simplify the complex issue of reserve planning by giving you the entire picture in one easy to understand report.
-- Reserve Study
Our team of reserve study professionals works with associations throughout Colorado State.
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
Frequently asked questions
Is a reserve study required in Colorado?
No, Colorado does not require HOAs or condo associations to conduct reserve studies, but they must adopt a policy addressing reserve funding and study practices under the Colorado Common Interest Ownership Act (CCIOA).
How much do reserve studies cost?
Reserve studies in Colorado generally cost between $2,000 and $8,000, depending on the size and complexity of the property.
How long does it take to do a reserve study?
A reserve study typically takes 2 to 6 weeks, from the site inspection to delivery of the final report.
How often should a condo association do a reserve study?
Though not legally required, industry best practices recommend conducting a reserve study every 3 to 5 years.
What does an HOA reserve study look like?
An HOA reserve study outlines the common elements, their remaining useful life, estimated replacement costs, and provides a 30-year funding plan to ensure long-term financial stability.
If you have any questions, our team of reserve study professionals will contact you immediately.
