No — Colorado does not require existing HOAs or condo associations to obtain reserve studies. The Colorado Common Interest Ownership Act (C.R.S. § 38-33.3-209.5(1)(b)(IX)) requires every association to adopt a written responsible-governance policy describing when it has reserve studies prepared, whether recommended work has a funding plan, and whether any study includes physical and financial analysis — but it does not compel a study on any schedule. Beginning August 12, 2026, newly enacted HB26-1099 adds a narrow mandate: declarants must obtain an independent 30-year reserve study before transferring control of a new community to its owners.
Verified against the statute 2026-07-06
CCIOA covers Colorado common interest communities of all types — condominiums, planned communities/HOAs, and cooperatives — and the reserve-study policy requirement reaches communities created before CCIOA's July 1, 1992 effective date via § 38-33.3-117(1.7) (small-community exemptions apply). HB26-1099's actual study mandate applies only to declarants transitioning control of new communities from August 12, 2026.
No statutory cycle for existing associations — each association's own written policy states when reserve studies are prepared. From August 12, 2026, declarants must obtain a 30-year independent reserve study before transferring control (HB26-1099).
No minimum funding level. The mandatory governance policy must state whether there is a funding plan for work a reserve study recommends and identify the projected funding sources, and boards investing reserve funds are held to the statutory standard of care in § 38-33.3-303(2.5), but Colorado imposes no dollar or percentage reserve requirement.
Associations must make annual financial statements available to owners within 90 days of fiscal year end, including any amounts held in reserve, along with the association's responsible governance policies (§ 38-33.3-209.4(2)). The most recent reserve study, if any exists, is an association record owners are entitled to inspect under § 38-33.3-317.
Requires a written policy stating when the association has a reserve study prepared, whether there is a funding plan for recommended work and its projected sources, and whether the study is based on a physical and financial analysis; an internally conducted study is expressly sufficient. Extends to communities created before CCIOA (July 1, 1992) via § 38-33.3-117(1.7).
Within 90 days after each fiscal year end, associations must make annual financial statements available to owners, including any amounts held in reserve; § 38-33.3-317 separately lists the association's most recent reserve study, if any, among records owners may inspect.
Signed April 13, 2026; effective August 12, 2026. Requires the declarant to obtain and pay for a reserve study projecting maintenance, repair, and replacement costs over a 30-year period, conducted by an independent reserve study professional with no business relationship with or financial interest in the declarant, before transferring control of a common interest community to the association.
Independently re-verified July 2026: downloaded the official CRS 2024 Title 38 PDF from content.leg.colorado.gov (live, HTTP 200) and extracted §§ 38-33.3-209.5(1)(b)(IX), 209.4(2)(d), 117(1.7), 303(2.5), and 317 (records list including 'the association's most recent reserve study, if any') verbatim — all match. Confirmed HB26-1099 on the official leg.colorado.gov bill page: official title 'Protect Financial Condition of Homeowners Associations,' governor signed April 13, 2026, effective August 12, 2026, requiring the declarant to obtain and pay for a 30-year reserve study by an independent professional with no business relationship with or financial interest in the declarant before transfer of control. Informational only — not legal advice. Confirm with the primary source and a community-association attorney licensed in Colorado. Report an issue.
Track percent funded, model funding scenarios, and generate the board-ready report your disclosures need — $49/yr, self-serve.
Explore Reserve Planner