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Milwaukee, WI 53202
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Corporate Headquarters
735 N. Water Street, Suite 175
Milwaukee, WI 53202
800-221-9882
Georgia does not require HOAs or condominium associations to complete a reserve study or maintain a statewide minimum reserve funding level. However, an association’s governing documents, the Georgia Condominium Act, the Property Owners’ Association Act, and lender or insurer requirements may still create obligations around reserve planning.
Reserve Advisors helps Georgia boards and property managers understand what applies to their community, anticipate future property needs, and build a long-term funding plan.
| What Georgia Law Requires | What Other Requirements & Expectations May Apply |
|---|---|
| Georgia does not require every HOA or condominium association to complete a reserve study. | Governing documents may establish reserve or long-term funding responsibilities for the association. |
| Georgia does not establish a statewide reserve funding level for community associations. | Condo lending standards may include requirements related to reserve funding and, in certain circumstances, reserve studies. |
| The Georgia Condominium Act and Property Owners' Association Act provide a legal framework for association finances and board responsibilities. | Insurers may consider the association's financial condition, property condition, and ability to address major repairs when evaluating coverage. |
Georgia gives associations considerable flexibility in how they prepare for future capital needs. There is no statewide reserve study requirement or prescribed funding level, so boards have to look at their own community, governing documents, and financial needs to determine the right approach.
That flexibility still comes with responsibility. Board members have fiduciary responsibilities to the association, which means making informed decisions about the community’s finances and property. A reserve study isn’t the only way to support those decisions, but it can give the board useful information for planning ahead.
Georgia recently passed a new law called the Property Owners’ Bill of Rights Act (SB 406). Most of the law takes effect January 1, 2027, and it gives HOA and condominium owners more access to information about how their association is being run.
That includes the right to request certain financial records from the previous three years, such as budgets, balance sheets, profit and loss statements, and bank statements.
SB 406 does not require Georgia associations to complete a reserve study. But with homeowners having more visibility into association finances, boards may face more questions about how they are preparing for future repairs and major expenses.
For the Georgia boards we work with, the question isn’t simply whether a reserve study is required. It’s whether the association has a clear picture of what’s coming and a plan to prepare for it.
For Georgia boards, that means:
A state mandate isn’t the only reason to have a reserve study. In our work with Georgia communities, reserve planning often becomes important for reasons that have little to do with whether the state requires it. Governing documents, condominium lending standards, insurance considerations, and the property’s own capital needs can all come into play.
Condo lending requirements:
Fannie Mae and Freddie Mac have requirements for condominium projects that include reserve funding and, in certain circumstances, reserve studies. An association’s reserve position can become relevant when a buyer is seeking financing or an existing owner is refinancing.
Insurance considerations:
Insurers may evaluate a community’s financial condition, property condition, and ability to address major repairs when underwriting coverage.
Governing documents:
An association’s declaration or bylaws may establish reserve or financial responsibilities beyond what Georgia law requires.
Future capital needs:
Roofs, pavement, building exteriors, pools, and other shared components will eventually need significant work. Knowing what’s likely to come due and when gives the board more time to prepare for those expenses.
That’s why we encourage boards to look beyond the question of whether a reserve study is required. The more useful question is whether the community has a clear understanding of what’s ahead and the funding plan to prepare for it.
The process includes:
On-Site Engineering Inspection: Reserve Advisors’ engineer-led process begins with an on-site evaluation of the community’s shared components. PE and RS credentials are represented on the team, bringing engineering and reserve planning expertise to the assessment.
Property Condition Assessment: The inspection documents current conditions and helps identify components that may need attention now or in the years ahead.
Component Lifecycle Evaluation: Each component is evaluated to estimate its remaining useful life and future repair or replacement costs. These are planning estimates based on current conditions, not fixed dates or guaranteed costs.
Capital Project Schedule & Funding Plan: Anticipated projects are organized over a 30-year period, giving the board a long-term view of when expenses may occur and the reserve contributions needed to prepare for them. Reserve Advisors does not bid on the repair or replacement projects identified in its studies, keeping the focus on evaluating needs and planning for them.
Photographic Documentation: Photos provide a record of component conditions at the time of the inspection and additional context for the study’s findings.
When our team evaluates Georgia communities, local conditions are part of the picture. Heat, humidity, storms, and longer warm-weather seasons can all affect how common components age and what we look for during an on-site inspection.
Those differences matter when we’re evaluating current conditions and estimating how much useful life a component may have left. A reserve plan should reflect the property that’s actually there, not just a standard assumption on a spreadsheet.
Heat & Humidity: Long periods of heat and humidity can put added wear on roofing, exterior paint, and other exposed components.
Heavy Summer Storms: Frequent rainfall can put drainage systems and other water-management components to the test.
Long Pool & Irrigation Seasons: Extended warm weather can mean more use of pools and irrigation systems, adding wear to components that can represent significant future expenses.
Coastal Conditions: Communities near Savannah and along the Georgia coast face different environmental conditions than properties farther inland.
The components included in a reserve study depend on the property and what the association is responsible for maintaining. An older mid-rise condominium in metro Atlanta, for example, may include elevators, building exteriors, and mechanical systems that aren’t part of a newer townhome community.
| Georgia Market | Property Mix | Components That May Drive Reserves |
|---|---|---|
| Atlanta Metro, Columbus & Macon | Mid-rise and high-rise condominiums, townhome communities, and larger planned communities | Roofing, building exteriors, elevators, mechanical systems, pavement, and community amenities |
| Savannah & Coastal Georgia | Condominium, townhome, and planned communities, including coastal properties | Roofing, exterior finishes, drainage and water-management systems, pavement, pools, and other exposed components |
| Augusta | Condominium, townhome, and planned communities | Roofing, pavement, exterior components, pools, and community amenities |
| North Georgia & Lake Oconee | Resort, lake, condominium, and planned communities | Roads and pavement, roofing, exterior components, pools, recreational amenities, and other shared infrastructure |
Local pricing matters when those needs are translated into a long-term funding plan. Reserve Advisors maintains local cost data to help reflect Georgia pricing when estimating future repair and replacement expenses.
There isn’t a one-size-fits-all price for a Georgia reserve study. When we scope a study, we look at the property itself and the work required to give the board a useful, accurate plan. Several factors can affect the proposal:
The fee is only one part of the equation. What matters is having a plan the board can actually use to prepare for major expenses over time. Better visibility into those costs can reduce the risk of funding shortfalls and unexpected special assessments, although no reserve study can eliminate that possibility entirely.
For most communities, every three to five years is a good planning rhythm. But we also tell boards not to rely on the calendar alone. If the property, project costs, or assumptions behind the current plan have changed, it may make sense to update the study sooner. Georgia does not establish a required update schedule, so the timing should also reflect the association’s governing documents and current funding plan.
Consider updating a reserve study sooner when:
Once the reserve study is delivered, the board still has to decide what to do with the numbers. That isn’t always easy. Boards are often trying to keep assessments and fees manageable today while also preparing for repairs that may still be years away. Homeowners may understandably question why they’re being asked to set money aside now for a roof, road, or other project they won’t see for a long time.
A good reserve plan gives the board something concrete to work from when weighing those decisions and explaining them to the community. Boards and property managers can turn to Reserve Advisors for help with questions that come up after the report, including:
A reserve study can also provide continuity as boards and property managers change over time. The documented component information, photographs, project schedule, and funding plan give future decision-makers a record of what was evaluated and why, so they don’t have to reconstruct the community’s capital planning history each time leadership changes.
400
Local Association Clients
560
Reserve Studies Conducted
90,300
Homeowners Served
No. Georgia does not have a statewide requirement for HOAs or condominium associations to complete a reserve study. The state’s new Property Owners’ Bill of Rights Act adds new rules around association operations and gives owners greater access to financial records, but it does not create a reserve study requirement.
Even without a mandate, governing documents, lending requirements, insurance considerations, and upcoming capital projects can all make reserve planning important.
Georgia does not establish a single statewide reserve funding level for community associations. Boards should consider the Georgia Condominium Act or Property Owners’ Association Act, as applicable, along with their own declaration and bylaws when determining their responsibilities.
A reserve study evaluates the association’s shared components, their current condition, estimated remaining useful life, and anticipated repair or replacement costs. Those findings are used to develop a long-term capital schedule and funding plan, typically looking 30 years ahead.
Cost depends on the property and scope of the study, including the number and type of shared components, property age and complexity, number of buildings, whether the association needs an initial study or an update, and travel requirements. Reserve Advisors provides proposals based on the specific community rather than a standard price.
Every three to five years is typical, but an earlier update may make sense when project costs, property conditions, funding needs, or applicable requirements change. Georgia does not establish a required reserve study update schedule.
A reserve study can reduce the risk of unexpected funding shortfalls by helping boards identify major future expenses and plan for them over time. It cannot guarantee that a special assessment will never be needed, particularly when unexpected damage, major cost increases, or other unplanned expenses occur.
Condominium lending standards may consider an association’s reserve funding and, in certain circumstances, reserve study information when determining whether a project meets financing requirements. That can make the association’s reserve position relevant when owners are buying, selling, or refinancing units.
Information about previous repairs and replacements, recent contractor bids, current reserve balances, known upcoming projects, and existing property records can provide useful context. Accurate information about the property’s history helps the reserve professional understand changes that may affect the current plan.
The board still needs to review the findings, determine how to fund future projects, and communicate those decisions to homeowners. Boards and property managers can also return to Reserve Advisors with questions about funding options, the study’s findings, or how changing circumstances may affect the plan.
Look for experience evaluating community association properties, engineering and reserve study expertise, realistic cost assumptions, clear reporting, and support after the report is delivered. Reserve Advisors’ studies are engineer-led, with Professional Engineer (PE) and Reserve Specialist (RS) credentials represented on the team.
Michelle Baldry, Regional Executive Director, Northeast U.S.
Reserve planning can look different from one community to the next. Michelle works with association boards and community managers, helping them understand their property’s needs, plan for major repairs and replacements, and make informed decisions about the road ahead.
Have a question about your Georgia community? Talk with Michelle.
Regional Executive Director, Northeast U.S.
Reserve Advisors
Tell us about your Georgia community, and we’ll put together a proposal based on your property and reserve planning needs.