SmartProperty® helps Oregon HOAs and condominiums with the maintenance plan and reserve funding analysis the law requires, reviewed every year. State law lets boards prepare it themselves, but lenders look for a professional, independent study.
Oregon’s statutes call it a maintenance plan with reserve funding analysis rather than a reserve study. Planned communities and condominiums each have their own chapter.
Lenders look for favorable commentary on structural integrity and remaining life, which our guide says only a certified professional can reliably provide. Fannie Mae’s 15% reserve minimum applies to condo loans dated on or after January 4, 2027.
The annual budget must outline the impact of not adequately funding reserves. Missing the reserve account, the written plan or a repayment resolution for borrowed funds is a clear statutory violation.
Our guide says updated Oregon building code provisions, including wildfire hazard mitigation (R327), require roofs and siding to meet current fire-resistant standards when replaced. Reserve costs need to reflect that.
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: Portland aerial: Spicypepper999, CC0. Oregon law summary is not legal advice. Confirm your association’s obligations with Oregon counsel.