The short answer
At least once every five years. A New Jersey law signed in January 2024 requires most community associations to obtain a reserve study at least every five years and to fund reserves according to its plan. Many boards also update the financial projections in between when costs or interest rates change.
When to update sooner
- After a major repair or replacement
- When construction costs jump
- Before a large capital project
- If the association's insurance or lender asks
Learn more
Read our full reserve study guide.
General information about New Jersey rules as of October 2026, not legal advice. Laws and municipal requirements change — confirm specifics with your attorney or the municipality before acting.