SmartProperty® helps Nevada common-interest communities keep up with one of the country’s most specific reserve laws: a study every five years, an annual board review and a 30-year projection under NRS Chapter 116.
Every 5 yearsA full reserve study with an on-site inspection (NRS 116.31152)
30-yearMinimum projection of capital expenditures and funding
45 daysTo file a summary with the Real Estate Division after adopting a study
WHAT NEVADA REQUIRES
Nevada regulates the study, and the specialist who writes it.
Reserve studies are mandatory for virtually all common-interest communities in Nevada, and the rules are changing at the regulation level.
NRS 116.31152 · NRS 116.3115
What the statute requires
A reserve study at least every five years, with a physical inspection of major components.
The board reviews the study annually and adjusts contributions, and reviews reserve revenue and expenses each quarter.
The board must fund adequate reserves, and may levy the assessments needed based on the study without an owner vote.
A summary goes to the Nevada Real Estate Division within 45 days of adoption.
WHO MAY WRITE IT · AND WHAT’S PENDING
A registered specialist, and a rule change to watch
The study must be prepared by a Reserve Study Specialist registered with the Nevada Real Estate Division, who carries at least $1,000,000 in professional liability coverage or a surety bond.
Proposed regulation R091-25 would remove baseline funding and define adequate reserves as a projected balance that never reaches zero over 30 years. It takes effect only after Legislative Commission approval.
Compliance is strict. Funding plans need to hold up.
Fines are rising
Since July 1, 2026, the Commission can fine up to $5,000 per violation, up from $1,000. Missed filings and records requests carry their own penalties.
Baseline funding is on its way out
If R091-25 is adopted, a plan that lets the balance dip to zero would no longer count as adequate funding. A threshold or full funding goal is the safer choice, and it also fits Fannie Mae’s rules.
An expired study limits financing
An expired or inadequate five-year study can restrict owners’ ability to sell or refinance. Fannie Mae’s 15% reserve minimum applies to condo loans dated on or after January 4, 2027.
HOW SMARTPROPERTY HELPS
Compliance is the floor. Funding stability is the goal.
Full reserve studies and updates
A site-inspected study to start, then updates as costs and conditions change, so the board always has a current plan.
A plan that stays current
The Living Reserve Study® updates as projects are completed and costs change, so your plan is ready for the next update or budget.
Funding options the board can compare
Model higher contributions, special assessments, loans or lines of credit side by side before you take a recommendation to owners.
Numbers you can explain
Atlas shows the cost data and useful-life assumptions behind every figure, so boards can answer owner questions with confidence.
TALK WITH SMARTPROPERTY ABOUT NEVADA
Get your Nevada reserve plan on solid ground.
See how the Living Reserve Study® works for your community, or tell us about your association and we’ll put together a proposal.
