Yes. New Jersey requires associations of planned real estate developments (condominiums, cooperatives and homeowners associations) with at least $25,000 in common area capital assets to have a capital reserve study with a 30-year funding plan, updated at least every 5 years. Certain condominium and cooperative buildings also need periodic structural inspections.
Last verified October 12, 2026 by ReservePath research.
| Reserve study required | Yes |
|---|---|
| Applies to | Condominiums, HOAs and planned communities, Cooperatives |
| How often | Every 5 years |
| Site inspection required | No statewide rule found |
Any association of a planned real estate development must undertake and fund a capital reserve study, and must have one conducted and reviewed at least once every 5 years. The requirement does not apply to an association with less than $25,000 in total common area capital assets. (see sources)
The statute requires an analysis of the physical status of the common area components and requires the study to follow the latest National Reserve Study Standards of the Community Associations Institute or similar national standards. It does not use the words site visit or visual inspection. (see sources)
Separate from the reserve study, covered buildings (residential condominium or cooperative buildings with a concrete, masonry, steel or hybrid primary load bearing system, including heavy timber and buildings with podium decks) need structural inspections by a licensed engineer acting as structural inspector. The first inspection is due within 15 years of the certificate of occupancy, or within 60 days of observable damage to the primary load bearing system, whichever is earlier. For buildings that already had a certificate of occupancy when the law took effect on January 8, 2024, the first inspection was due within 2 years of that date if the certificate was 15 or more years old, and otherwise within one year after the building reaches 15 years. The inspector sets the next inspection date, no more than 10 years after the initial inspection, and later inspections can be no more than 5 years apart [N.J.S.A. 52:27D-132.4]. (see sources)
The study must include a 30-year funding plan under which the reserve fund balance does not fall below zero. Under the 2025 amendment, an association that existed on January 8, 2024 must fund reserves under one of the funding plans in its latest study, or may fund at 85 percent of a plan for no more than five fiscal years after the 2025 law, after giving unit owners a notice in 20-point bold type that states the year and amount of the expected special assessment or loan. Associations created after January 8, 2024 must fund under one of the plans in their latest study. The board may adopt an assessment or loan without owner consent to pay for corrective structural maintenance, after getting a written report from a licensed engineer or architect. (see sources)
If the board elects 85 percent funding, the seller of a unit must give the buyer a copy of the most recent notice before a purchase contract is signed. Developers must make structural inspection reports and the preventative maintenance document available to prospective purchasers. Structural inspection reports must be made available to residents on request. (see sources)
The study must be performed or overseen by a reserve specialist credentialed through the Community Associations Institute, or by an engineer or architect licensed by the State. The study must also be reviewed by a licensed architect, engineer or credentialed reserve specialist. (see sources)
ReservePath supports full studies, updates with a site visit and updates without one, 30-year funding projections, and study renewal reminders based on the cycle you set for each study. It includes in-app compliance guidance for each state as a starting point. The preparer and the association's attorney remain responsible for confirming what the law requires.
Any association of a planned real estate development must undertake and fund a capital reserve study, and must have one conducted and reviewed at least once every 5 years. The requirement does not apply to an association with less than $25,000 in total common area capital assets.
Every 5 years under the statutes listed on this page. The statute requires an analysis of the physical status of the common area components and requires the study to follow the latest National Reserve Study Standards of the Community Associations Institute or similar national standards. It does not use the words site visit or visual inspection.
The study must be performed or overseen by a reserve specialist credentialed through the Community Associations Institute, or by an engineer or architect licensed by the State. The study must also be reviewed by a licensed architect, engineer or credentialed reserve specialist.
The study must include a 30-year funding plan under which the reserve fund balance does not fall below zero. Under the 2025 amendment, an association that existed on January 8, 2024 must fund reserves under one of the funding plans in its latest study, or may fund at 85 percent of a plan for no more than five fiscal years after the 2025 law, after giving unit owners a notice in 20-point bold type that states the year and amount of the expected special assessment or loan. Associations created after January 8, 2024 must fund under one of the plans in their latest study. The board may adopt an assessment or loan without owner consent to pay for corrective structural maintenance, after getting a written report from a licensed engineer or architect.
If the board elects 85 percent funding, the seller of a unit must give the buyer a copy of the most recent notice before a purchase contract is signed. Developers must make structural inspection reports and the preventative maintenance document available to prospective purchasers. Structural inspection reports must be made available to residents on request.
Track components, funding and renewal dates for every association in one place.
Start Your Free Trial