Other states (NRSS standard) HOA reserve study requirements (2026)
NRSS-standard 3-5 year cycle; driven by bylaws and lender requirements.
Quick facts
What the law actually requires
Many US states do not have a specific reserve-study statute. In these jurisdictions, reserve study practice is driven by three forces: NRSS (the National Reserve Study Standards maintained by the Community Associations Institute), lender underwriting (FHA condo project approval, Fannie Mae / Freddie Mac project standards), and association bylaws (many modern condo bylaws specify a reserve study cycle).
The NRSS defines three study levels (Level I full with site visit, Level II update with site visit, Level III desktop update) and a recommended 3-5 year cycle for the highest level. Even in states without a statutory mandate, NRSS-compliant studies are the de facto standard because they're what lenders and insurers look for.
Boards in states without a specific statute should still target a Level I or II reserve study every 3-5 years — not because state law requires it, but because the absence of a current study creates fiduciary exposure, refinance friction, and underfunding risk that compounds over time. The cost of a reserve study is typically under 1% of an HOA's annual budget; the cost of the alternative (special assessments for unexpected repairs, lawsuit exposure, refinance lockout) is dramatically higher.
How ReserveDeck handles Other states (NRSS standard)
ReserveDeck applies its Generic NRSS format to Other states (NRSS standard) properties: a National Reserve Study Standards report with the percent-funded metric, a 30-year cash-flow projection, and the three funding plans (Recommended, Threshold, Baseline). There is no Other states (NRSS standard)-specific disclosure page.
Built-in Other states (NRSS standard) compliance.
Select NRSS — National Reserve Study Standards 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 — Other states (NRSS standard)
Do all states require HOAs to have a reserve study?
No. Reserve-study law varies by state. Some states have a specific statute requiring a periodic reserve study on a defined cycle. Others require only that reserve funding be 'adequate' or 'reasonable' without mandating a particular study or cycle. Many states have no reserve-specific statute at all, leaving practice to association bylaws, lender requirements, and the NRSS industry standard — the category this page covers.
What is NRSS?
The National Reserve Study Standards, maintained by the Community Associations Institute (CAI). NRSS defines three study levels (I, II, III), the percent-funded methodology, the 30-year projection horizon, and the funding plan formats most reserve study providers follow.
Do FHA / Fannie Mae / Freddie Mac require a reserve study?
Yes, indirectly. FHA condo project approval requires evidence of adequate reserves, which is typically demonstrated via a recent (within 5 years) reserve study. Fannie Mae and Freddie Mac have similar project standards. Without a current study, condos in states without a specific statute can still be locked out of these loan programs.
Should our HOA still get a reserve study if our state doesn't require one?
Yes. The absence of a state statute doesn't eliminate fiduciary duty, lender requirements, or the underlying need to fund future repairs. Boards in these states should target NRSS-compliant Level I studies every 3-5 years.