Nevada HOA reserve study requirements (2026)
Reserve study every 5 years; annual update of the budget portion.
Quick facts
What the law actually requires
Nevada's reserve study mandate at NRS 116.31152 applies to every common-interest community in the state — condos, planned communities, and cooperatives alike. The statute requires the executive board to commission a reserve study at least every 5 years conducted by an independent qualified person, and to incorporate the study's funding recommendations into the annual budget.
The study must include a current inventory of major components, useful life and remaining useful life estimates, current replacement cost in today's dollars, and a 30-year funding analysis. The statute also requires the board to send each unit owner a copy of the reserve study, or a summary, with the annual budget — Nevada owners have a statutory right to see the full document.
Nevada's enforcement teeth are sharper than most states': the Nevada Real Estate Division has authority under NRS 116 to investigate non-compliance complaints, and chronic underfunding can trigger receivership proceedings under NRS 116.31034.
How Apex Reserve Studio handles Nevada
Apex Reserve Studio's Nevada compliance jurisdiction produces the NRS 116.31152 disclosure summary in the format expected by the Nevada Real Estate Division and includes the 5-year update cadence as a built-in dashboard reminder. The engine handles both condo and planned-community configurations under Chapter 116.
Built-in Nevada compliance.
Select NRS 116.31152 from the Compliance Jurisdiction dropdown and Apex's PDF builder produces the right disclosure format automatically. Engine math is identical across jurisdictions — only the deliverable changes.
Frequently asked questions — Nevada
How often does a Nevada HOA need a reserve study?
NRS 116.31152 requires a reserve study at least every five years, conducted by an independent qualified person. Annual budget updates must reflect the most recent study's funding recommendations.
Who can conduct a Nevada reserve study?
An 'independent qualified person' — the statute does not require a specific credential (like RS or PRA), but the person must have demonstrable expertise in reserve studies and be independent of the association's management and any vendors who would bid on the resulting work.
Can Nevada owners waive the reserve study?
No. NRS 116.31152 is a mandatory disclosure requirement that cannot be waived by owner vote. Failure to comply can be reported to the Nevada Real Estate Division.
What's the penalty for missing the 5-year cycle?
Boards expose themselves to fiduciary liability and potential enforcement action by the Nevada Real Estate Division. Persistent underfunding can trigger receivership proceedings under NRS 116.31034.