California HOA reserve study requirements

A plain-language summary of Civil Code § 5550. Last checked October 2026.

Who it applies to: Common interest developments where the replacement value of major components is at least half of the association's gross budget, not counting the reserve account.
How often: A study with a visual inspection at least once every three years. The board must review it every year.
Who can prepare it: The statute does not name a credential. It requires the board to "cause to be conducted" a "reasonably competent and diligent visual inspection" of accessible areas.
What it must contain: Major components with under 30 years of remaining life, their remaining life, the cost to repair or replace them, the annual contribution needed, and a reserve funding plan.

Can a board do its own reserve study in California?

Board may prepare part of it

The statute sets what the study must contain and requires a visual inspection every three years, but does not say who must do it. A board can use the workbook for the yearly review and the funding plan. The three-year inspection still has to happen, and many boards hire a professional for it.

Your governing documents may set stricter rules than the statute. Check them too.

The workbook

Reserve Study Kit is an Excel workbook that builds a 30-year reserve funding plan from your component list: every year's balance, percent funded, and the contribution that keeps you above your minimum.

See how it works

Source

Civil Code § 5550. Read the statute itself before relying on this summary.