Reserve Studies – Important Timeline
Most board members are aware that with few exceptions, homeowner associations are required by law to obtain a reserve study every three years and to update it if necessary, each year in between.
Following is a timeline for HOA budgets and reserve studies that assume a December 31 fiscal year end.
| May 1 | Authorize reserve study provider to start reserve study process. |
| June 1 | |
| July 1 | Send reserve study to board for approval. |
| August 1 | Send budget draft to board for their review. |
| September 1 | |
| October 1 | Send budget for next fiscal year to owners. |
| November 1 | |
| December 1 | Last day to send budget for next fiscal year to owners. |
| December 31 | Fiscal year-end. |