Michigan condominium reserve requirements

A plain-language summary of MCL 559.205. Last checked October 2026.

Who it applies to: Condominium associations.
How often: The statute sets no interval and does not name a reserve study.
Who can prepare it: The statute does not name a preparer.
What it must contain: The association must maintain "a reserve fund for major repairs and replacement of common elements". The statute lets the state administrator set minimum standards by rule, so check the administrative rules as well.

Can a board do its own reserve study in Michigan?

Board may prepare it

Michigan's statute requires a reserve fund, not a formal study. Check the state's administrative rules for any minimum funding level. The workbook helps a board plan beyond a minimum.

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

MCL 559.205. Read the statute itself before relying on this summary.