-- Reserve Study Requirements
Who needs a Reserve Study.
In Georgia, there is no legal requirement for homeowners associations (HOAs) or condominium associations to conduct reserve studies.
How often do you need to update a Reserve Study.
While not mandated by law, industry best practices recommend updating reserve studies every 3 to 5 years to account for changes in maintenance needs and financial conditions.
Additional Information
Although not legally required, conducting regular reserve studies is advisable to ensure financial preparedness for major repairs and replacements, thereby reducing the likelihood of special assessments or loans.
Serving the Northeast
Serving the Great Lakes
Serving the Mountain
Serving the Southeast
Serving the Pacific West
Ponte Vedra
- 822 A1A North
Suite 310
Ponte Vedra FL 32082 - 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
Currently there are no state specific reserve study laws in Georgia. We recommend that an Association periodically undertake a reserve study and review their funding strategy to ensure reserves will adequately address anticipated repair, replacement and major maintenance projects.
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 Georgia State.
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
Frequently asked questions
Is a reserve study required in Georgia?
No, Georgia does not require HOAs or condo associations to conduct reserve studies by law.
How much do reserve studies cost?
Reserve studies in Georgia typically cost between $2,000 and $8,000, depending on the community’s size and assets.
How long does it take to do a reserve study?
A reserve study usually takes 2 to 6 weeks from initial site visit to delivery of the final report.
How often should a condo association do a reserve study?
While not required, industry best practices recommend doing a reserve study every 3 to 5 years.
What does an HOA reserve study look like?
A reserve study includes a list of common assets, their remaining useful life, replacement costs, and a 30-year funding plan to ensure the HOA can meet future repair and replacement needs without special assessments.
If you have any questions, our team of reserve study professionals will contact you immediately.
