CONDOMINIUM AND ASSOCIATION
Create your Reserve Study, Budget and Financial Analysis
RESERVE STUDY REQUIREMENTS
California Civil Code 5300 and Civil Code 5560 require that every association
must annually adopt and disclose the Reserve Funding Plan. Typical Reserve
Studies have a 30-yr Funding Plan.
Civil Code 5300 requires a full Summary of the Reserve Study be included
in the annual budget report. California Civil Code 5570 defines the annual
Assessment and Reserve Funding Disclosure.
The Civil Code requires in-person site every three years, while this should
be done by a professional, the code is not clear on this requirement.
Homeowners in small associations, with certain qualifications, can prepare
their own reserve study by using the format available here. It is highly
recommended that Reserve Study professionals be used for the official
association Reserve Study.
The format here can help provide analysis of the data for the benefit of
the homeowners.
Click here to view sample excel Reserve Study |