McCaffery Reserve Consulting knows California reserve study requirements inside and out. We specialize in completing a reserve study for common interest developments (CID), including: condominium & homeowner associations (HOA) and other community properties throughout California.
The main markets we serve in California are: San Diego, Los Angeles, Orange County, Temecula, Riverside, Inland Empire, and Palm Springs. We are also available to travel anywhere in California to meet your reserve study needs.
If you are interested in finding out more about our California Reserve Studies, then please contact us OR fill out our online proposal request form.
Requirements for your Reserve Study in California
California Civil Code requires that full reserve studies with an on-site inspection must be performed at least every 3 years for common interest developments (CID), such as Homeowner Associations.
In addition to that requirement, annual adjustments and updates to the reserve study must be completed every year and the information must be disclosed to the owners with the annual budget package. (This is a reserve study without an on-site inspection)
As of July 1st, 2005 there is a specific assessment and reserve funding disclosure summary form that must be included every year with the annual budget package.
This form has been updated in 2007 and now requires a percent funded projection for the next 5 years. (This calculation can not be done without a current reserve study)
Starting July 1st, 2009 California Civil Code requires that HOA’s adopt a reserve funding plan and that they include it in their annual budget along with their reserve study and reserve funding disclosure summary.