Is a Reserve Study Required Annually in California?
California Civil Code 5550 requires a Reserve Study based on a “diligent visual site inspection” at least every third year, but requires the Board review that Reserve Study annually and “consider and implement necessary adjustments”. That’s called an annual Reserve Study update. California Civil Code 5300 and Civil Code 5560 together require that every association annually adopt and disclose their Reserve Funding Plan. Most Reserve Studies have a 30-yr Funding Plan. But if it is two years old, then the association doesn’t have a current plan. Time has marched on, and the plan is out of date. Get your updated 30-yr Funding Plan, every year, when you update your Reserve Study. Then adopt it and disclose it! Read the article…………
AB 786 – Clarification on Association’s Ability to Discipline Members Who Fail to Water Landscape in Times of Drought (CA)
AB 786 is a piece of emergency legislation adopted earlier this year in response to California’s drought conditions. The bill
The basic question I received from a homeowner relates to what rights an owner has when the board establishes a
There is an embarrassingly high level of resistance to reserve studies and reserve funding throughout the country. The pervasive attitude