SmartProperty® helps Kansas HOAs and condominiums plan and fund their reserves. State law doesn’t require a study or a minimum balance, so the board’s fiduciary duty is the standard it will be measured against. A reserve study is how you show you met it.
Neither of the main Kansas statutes sets a reserve requirement. That leaves the board’s duty of care, and its limits on special assessments, to do the work.
If a failure was foreseeable and the board didn’t plan for it, a court could rule the board can’t levy the special assessment to fix it. A professional study is the record that the board acted with ordinary prudence.
Kansas requires a seller’s agent to disclose all adverse material facts, and a large unfunded liability is arguably one. A current study gives sellers, agents and lenders real numbers to work from.
An association with no study and a weak reserve fund can land on a lender’s ineligible list. Fannie Mae’s 15% reserve minimum applies to condo loans dated on or after January 4, 2027.
A site-inspected study to start, then updates as costs and conditions change, so the board always has a current plan.
The Living Reserve Study® updates as projects are completed and costs change, so your plan is ready for the next update or budget.
Model higher contributions, special assessments, loans or lines of credit side by side before you take a recommendation to owners.
Atlas shows the cost data and useful-life assumptions behind every figure, so boards can answer owner questions with confidence.
See how the Living Reserve Study® works for your community, or tell us about your association and we’ll put together a proposal.
Photo via Wikimedia Commons: Downtown Wichita: Popcorn700, CC BY-SA 4.0. Kansas law summary is not legal advice. Confirm your association’s obligations with Kansas counsel.