Yes. Under RCW 64.90.545, a Washington common interest community must prepare a reserve study, update it every year, and have a reserve study professional prepare the update from a visual site inspection at least every third year. Unless the governing documents require otherwise, exemptions cover communities restricted to nonresidential use, communities with only nominal reserve costs, certain middle housing communities, and cases where the study or update would cost more than 10 percent of the association's annual budget. RCW 64.90.545 also applies to most communities created before July 1, 2018, with exceptions for certain plat, miscellaneous, nonresidential and mixed-use communities [RCW 64.90.365].
Last verified October 12, 2026 by ReservePath research.
| Reserve study required | Yes |
|---|---|
| Applies to | Condominiums, HOAs and planned communities, Cooperatives |
| How often | Every year |
| Site inspection required | Yes |
Unless exempt, an association must prepare a reserve study and update it every year. The first study must be prepared by a reserve study professional. At least every third year the update must be prepared by a reserve study professional based on a visual site inspection. [RCW 64.90.545(1)] (see sources)
RCW 64.90.545(1): the initial study must be based on a reserve study professional's visual site inspection of completed improvements, or a review of plans for unbuilt improvements, or both. At least every third year the updated study must be prepared by a reserve study professional and based on a visual site inspection by that professional. (see sources)
We found no statewide rule on this in the statutes listed under Sources.
The statutes reviewed do not set a minimum reserve funding level. The budget must show the amount of regular assessments budgeted for the reserve account, say whether the association has a reserve study that meets RCW 64.90.550 and how far the budget meets or departs from its recommendations, and state the current reserve deficiency or surplus per unit (RCW 64.90.525). The study itself must show full funding and baseline funding plans and 30 year projected balances (RCW 64.90.550). (see sources)
The board must send the proposed budget, with the reserve items above, to all unit owners within 30 days after adopting it and set a ratification meeting 14 to 50 days after it is sent (RCW 64.90.525). The resale certificate must say whether the association has a reserve study prepared under RCW 64.90.545 and 64.90.550, must include the most current reserve study, and must carry a set warning if there is no current study (RCW 64.90.640). Every reserve study must include a set disclosure that begins, This reserve study should be reviewed carefully (RCW 64.90.550(3)). (see sources)
A reserve study professional is an independent person who is suitably qualified by knowledge, skill, experience, training or education to prepare a reserve study. Independent means not an employee, officer or director of, and having no financial interest in, the declarant, the association or any other party the study is prepared for (RCW 64.90.010). No state license is named. (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.
Unless exempt, an association must prepare a reserve study and update it every year. The first study must be prepared by a reserve study professional. At least every third year the update must be prepared by a reserve study professional based on a visual site inspection. [RCW 64.90.545(1)]
Every year under the statutes listed on this page. RCW 64.90.545(1): the initial study must be based on a reserve study professional's visual site inspection of completed improvements, or a review of plans for unbuilt improvements, or both. At least every third year the updated study must be prepared by a reserve study professional and based on a visual site inspection by that professional.
A reserve study professional is an independent person who is suitably qualified by knowledge, skill, experience, training or education to prepare a reserve study. Independent means not an employee, officer or director of, and having no financial interest in, the declarant, the association or any other party the study is prepared for (RCW 64.90.010). No state license is named.
The statutes reviewed do not set a minimum reserve funding level. The budget must show the amount of regular assessments budgeted for the reserve account, say whether the association has a reserve study that meets RCW 64.90.550 and how far the budget meets or departs from its recommendations, and state the current reserve deficiency or surplus per unit (RCW 64.90.525). The study itself must show full funding and baseline funding plans and 30 year projected balances (RCW 64.90.550).
The board must send the proposed budget, with the reserve items above, to all unit owners within 30 days after adopting it and set a ratification meeting 14 to 50 days after it is sent (RCW 64.90.525). The resale certificate must say whether the association has a reserve study prepared under RCW 64.90.545 and 64.90.550, must include the most current reserve study, and must carry a set warning if there is no current study (RCW 64.90.640). Every reserve study must include a set disclosure that begins, This reserve study should be reviewed carefully (RCW 64.90.550(3)).
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