Reserve Specialists
Salt Lake City
OFFICE ADDRESS
222 South Main St,
Suite 500,
Salt Lake City UT 84101
Phone 888.315.2843
Fax 888.316.4587
Email mail@reservestudygroup.com
Salt Lake Reserve Study Requirements
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.
Providing reserve studies throughout UTAH, COLORADO & ARIZONA.



Reserve Study Legislation
CONDOMINIUM OWNERSHIP ACT | SECTION 7.5
SECTION 57-8-7.5 (1)
SECTION 57-8-7.5 (2)
SECTION 57-8-7.5 (3)
(3) | The management committee may conduct a reserve analysis itself or may engage a reliable person or organization, as determined by the management committee, to conduct the reserve analysis. |
SECTION 57-8-7.5 (4)
(4) | A reserve fund analysis shall include:
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SECTION 57-8-7.5 (5)
SECTION 57-8-7.5 (6)
(6) | In formulating its budget each year, an association of unit owners shall include a reserve fund line item in:
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SECTION 57-8-7.5 (7)
(7) |
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SECTION 57-8-7.5 (8)
(8) |
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SECTION 57-8-7.5 (9)
(9) |
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SECTION 57-8-7.5 (10)
SECTION 57-8-7.5 (11)
(11) | For a condominium project whose initial declaration is recorded on or after May 12, 2015, during the period of administrative control, for any property that the declarant sells to a third party, the declarant shall give the third party:
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SECTION 57-8-7.5 (12)
(12) | Except as otherwise provided in this section, this section applies to each association of unit owners, regardless of when the association of unit owners was created. |
COMMUNITY ASSOCIATION ACT | CHAPTER 8A PART 2 SECTION 211
SECTION 57-8A-211 (1)
(1) | As used in this section:
|
SECTION 57-8A-211 (2)
SECTION 57-8A-211 (3)
(3) | The board may conduct a reserve analysis itself or may engage a reliable person or organization, as determined by the board, to conduct the reserve analysis. |
SECTION 57-8A-211 (4)
(4) | A reserve fund analysis shall include:
|
SECTION 57-8A-211 (5)
SECTION 57-8A-211 (6)
(6) | In formulating its budget each year, an association shall include a reserve fund line item in:
|
SECTION 57-8A-211 (7)
(7) |
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SECTION 57-8A-211 (8)
(8) |
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SECTION 57-8A-211 (9)
(9) |
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SECTION 57-8A-211 (10)
SECTION 57-8A-211 (11)
(11) | For a project whose initial declaration of covenants, conditions, and restrictions is recorded on or after May 12, 2015, during the period of administrative control, for any property that the declarant sells to a third party, the declarant shall give the third party:
|
SECTION 57-8A-211 (12)
(12) | Except as otherwise provided in this section, this section applies to each association, regardless of when the association was created. |
Utah State Reserve Study Professionals
Our team of reserve study professionals work with
associations throughout Utah State.
Top 10 Cities Served
Park City
St George
Sandy
West Valley City
Salt Lake
Midvale
South Jordan
Ogden
Orem
Provo