Virginia HOA reserve study requirements

A plain-language summary of Code of Virginia § 55.1-1826. Last checked October 2026.

Who it applies to: Property owners' associations. Condominiums are covered by a separate section of the Virginia Condominium Act.
How often: A reserve study at least once every five years. The board must review the results at least once a year.
Who can prepare it: The statute does not say who must prepare the study. It makes the board responsible for conducting it.
What it must contain: When the study shows reserves are needed, the budget must state each capital component's replacement cost, remaining life and useful life, current reserves and expected contributions, and how reserves are estimated and accumulated.

Can a board do its own reserve study in Virginia?

Board may prepare it

Virginia requires the study and the yearly review but does not require a credentialed preparer. The workbook produces the replacement cost, remaining life and useful life figures the budget must disclose.

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

Code of Virginia § 55.1-1826. Read the statute itself before relying on this summary.