-- Reserve Study Requirements
Who needs a Reserve Study.
Under Utah Code 57-8-7.5, reserve studies are required for condominium associations
How often do you need to update a Reserve Study.
Utah law requires condo reserve studies to be updated every six years, with yearly board reviews.
Additional Information
While contribution amounts aren't mandated, associations must maintain enough reserves to avoid shortfalls, special assessments, or deferred maintenance.
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
Sections 57-8-7.5 and 57-8a-211 of the Utah Code introduced changes to how homeowners associations and communities in Utah manage their common property. Both sections focus on the need for communities to regularly review and update a reserve study. New requirements call for associations to review a reserve study at least once every third year and conduct a new study no less that once every six years. The legislation also sets requirements for how to present the outcomes of your reserve study and the type of information that should be included within each report or study. Changes to the Condominium Ownership Act (Chapter 8) and the Community Association Act (Chapter 8a) have renewed the focus on reserve funds and common area responsibilities.
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 work with associations throughout Utah State.
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
- Baltimore
Frequently asked questions
Is a reserve study required in Utah?
Yes, Utah law requires associations to review a reserve study every 3 years and conduct a new study at least every 6 years.
How much do reserve studies cost?
Reserve studies in Utah typically cost between $2,500 and $10,000, based on the community’s size and complexity.
How long does it take to do a reserve study?
A reserve study usually takes 2 to 6 weeks from inspection to final report delivery.
How often should a condo association do a reserve study?
A full reserve study must be done every 6 years, with a review at least every 3 years per Utah law.
What does a 70 funded reserve mean?
It means the association has 70% of the recommended reserve funds needed for future repairs—generally considered a healthy funding level that reduces risk of special assessments.
If you have any questions, our team of reserve study professionals will contact you immediately.
