Nevada HOA reserve study requirements (2026)
Reserve study every 5 years; annual review and funding-plan adjustment.
Quick facts
What the law actually requires
Nevada's reserve study mandate at NRS 116.31152 applies to every common-interest community in the state — condos, planned communities, and cooperatives alike. The statute requires the executive board, at least once every 5 years, to cause to be conducted a study of the reserves required to repair, replace and restore the major components of the common elements, to review the results at least annually, and to make any adjustments to the funding plan the board deems necessary to provide adequate funding. Under NRS 116.31152(2), the study must be conducted by a person who holds a permit issued under NRS Chapter 116A — Nevada's own reserve-study-specialist registration — except for common-interest communities of 20 or fewer units in a county with a population under 55,000, which may use any person the executive board deems qualified.
The study must include a summary of the inspection, identification of major components with a remaining useful life of less than 30 years, their estimated remaining useful life, the estimated cost of maintenance, repair, replacement or restoration, and the estimated annual assessment and funding plan (NRS 116.31152(3)). Under NRS 116.31151, the annual reserve budget distributed to each unit's owner must separately include the current estimated replacement cost, remaining life and useful life of each major component, the accumulated cash reserves set aside, whether special assessments are anticipated, and the qualifications of the person who prepared the study. The full study is available to unit owners on request under NRS 116.31175.
NRS 116.3115(2)(b) requires the association to establish adequate reserves, funded on a reasonable basis, for the repair, replacement and restoration of the major components of the common elements — the statute sets no numeric percent-funded requirement. Whether the association's reserves are adequate under that standard is a determination for the executive board.
How ReserveDeck handles Nevada
When a property's compliance jurisdiction is set to Nevada, ReserveDeck's report prints the NRS 116.31152 requirements described above on its Disclosures page and states the study cycle in the cover letter. The reserve math is the same in every state.
ReserveDeck does not reproduce a state's statutory disclosure form; it provides the reserve figures a board needs to complete one (reserve requirement, percent funded, multi-year projections, and the funding plans).
Built-in Nevada compliance.
Select NRS 116.31152 from the Compliance Jurisdiction dropdown and ReserveDeck's PDF builder produces the right disclosure format automatically. Engine math is identical across jurisdictions — only the deliverable changes.
Frequently asked questions — Nevada
How often does a Nevada HOA need a reserve study?
NRS 116.31152 requires a reserve study at least once every five years. The executive board must review the results at least annually and make any adjustments to the funding plan it deems necessary to provide adequate funding.
Who can conduct a Nevada reserve study?
NRS 116.31152(2) requires the study to be conducted by a person who holds a permit issued under NRS Chapter 116A — Nevada's reserve-study-specialist registration administered by the Real Estate Division. The only exception is for common-interest communities of 20 or fewer units in a county with a population under 55,000, where the executive board may use any person it deems qualified.
Can Nevada owners waive the reserve study?
No. NRS 116.31152 is a mandatory requirement that cannot be waived by owner vote.
Does Nevada require reserves to be a specific percent funded?
No. NRS 116.3115(2)(b) requires the association to establish adequate reserves, funded on a reasonable basis — the statute sets no numeric percent-funded floor. Funding level within that standard is a determination for the executive board.