SmartProperty® helps South Carolina condominiums and HOAs plan and fund their reserves. South Carolina doesn’t require a study, but a failure to establish a reserve fund has already been the subject of insurance litigation, and a documented plan is the board’s best protection.
South Carolina leaves reserve decisions to the association. The board’s fiduciary duty and the cost of a failed component are what make planning worth doing.
If a roof, siding or pool system fails and a large special assessment follows, owners can sue for negligence and breach of fiduciary duty. A study shows the board acted on expert analysis, not guesswork.
An association with no study and weak reserves can land on a lender’s ineligible list, which limits buyers to cash. Fannie Mae’s 15% minimum applies to condo loans dated on or after January 4, 2027.
For lenders, a study counts only if it was completed or updated within the past three years and the budget funds its highest recommended contribution. Baseline funding is no longer accepted.
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: Rainbow Row: Andreas Hörstemeier, CC BY-SA 3.0. South Carolina law summary is not legal advice. Confirm your association’s obligations with South Carolina counsel.