SmartProperty® helps Pennsylvania condominiums and planned communities plan and fund their reserves. Pennsylvania doesn’t require a study, but it holds board members to an ordinary-prudence standard, and a professional study is the clearest record that a board met it.
Pennsylvania gives boards the power to manage reserves and holds them to a fiduciary duty. It sets no study schedule and no minimum reserve balance.
If a roof or HVAC failure forces a large special assessment, homeowners can sue for breach of fiduciary duty. A professional study is the record of reasonable inquiry that answers that claim.
Fannie Mae requires lenders to review reserve adequacy, and FHA often expects 10% of income to go to reserves. An association with weak reserves can land on a lender’s ineligible list, and buyers are left with cash only.
Since August 3, 2026, lenders can no longer use the streamlined Limited Review for most condo loans. An association below the 15% minimum needs a study from the past three years and a budget that funds its highest recommended contribution.
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: Philadelphia skyline: Bronzeage10, CC BY 4.0. Pennsylvania law summary is not legal advice. Confirm your association’s obligations with Pennsylvania counsel.