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Reserve Studies for HOAs & Condominiums in Arizona

An HOA reserve study tells your board exactly what your community owns, what it will cost to repair or replace, and how much to set aside each year — so you can budget with confidence and avoid surprise special assessments. Capital Reserve Analysts has prepared reserve studies for 1,000+ communities across Arizona, New Mexico, California, and Texas since 2012.

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What Is a Reserve Study?

A reserve study is a long-range budget plan for your association’s shared assets — roofs, roads, pools, painting, fencing, and every other common-area component your HOA is responsible for. It combines two things:

  • A physical analysis: an on-site inspection and inventory of each component, its condition, remaining useful life, and current replacement cost.
  • A financial analysis: your reserve fund’s current strength (percent funded) and a 30-year funding plan that keeps contributions stable and fair to every generation of owners.

Industry guidance recommends updating your reserve study every three to five years — and many management companies, lenders, and insurers now expect a current study on file.

What’s Included in Every Study

Every report we deliver meets the Community Associations Institute (CAI) standards for a complete reserve study, and is written so a volunteer board can actually use it:

Component Inventory

A full list of your common-area assets with quantities, useful life, remaining life, and current replacement costs based on real local pricing.

Reserve Fund Analysis

Your starting balance, percent funded level, and how your fund strength compares to where it should be.

30-Year Funding Plan

Recommended annual contributions, projected expenses, and year-by-year balances — with charts and tables your whole board can follow.

Board Presentation

We walk your board through the findings, answer questions, and model what-if scenarios so you can adopt the plan with confidence.

Our Process

1

Proposal

Tell us about your community and we’ll send a flat-fee proposal — most requests get a response within one business day.

2

Site Inspection

A reserve analyst walks your property, photographs and measures every common-area component, and assesses its condition firsthand.

3

Analysis & Report

We build your study from scratch — no recycled templates — combining engineering and construction knowledge with realistic local cost data.

4

Review & Ongoing Support

We present the report, make revisions, and remain available year-round as your board puts the plan to work.

Levels of Service

Full Reserve Study

Complete component inventory, on-site inspection, condition assessment, and funding plan. The right choice for a first study or after major construction.

Update With Site Visit

We re-inspect your property, refresh component conditions and costs, and update your funding plan. Recommended every 3–5 years.

Update Without Site Visit

A cost-effective refresh of your existing study’s financial analysis using updated balances and pricing — ideal for in-between years.

Who We Serve

Homeowners associations, condominiums, high-rise buildings, master-planned communities, and private clubs — plus commercial and institutional properties. Headquartered in Chandler, Arizona and serving communities statewide, from Phoenix and Scottsdale to Tucson, plus New Mexico, California, and Texas.

Why Boards Choose Capital Reserve Analysts

  • Independent. We don’t sell construction, management, or banking services — our only product is an unbiased study.
  • Local. Arizona-based analysts using real Southwest construction costs, not national averages.
  • Built from scratch. Every study starts with your community’s actual components and finances — never a recycled template.
  • Readable. Clear tables, graphs, and plain-English recommendations a volunteer board can act on.
The report and service provided by Casey and his team was outstanding! Major improvement from our last provider.
— Bob Kellhier, Board Treasurer, La Cholla Airpark
Casey was very professional and patient with our community and all the questions we threw at him. We now have a report that meets our needs.
— Phil Sinn, CFO, Leisure World Community Association

Frequently Asked Questions

How much does a reserve study cost?
Most HOA reserve studies range from roughly $1,500 to $6,000+ depending on the size and complexity of your community, the number of common-area components, and whether you need a full study or an update. We provide flat-fee proposals, so you’ll know the exact price before you commit. Request a proposal for an exact quote.
How often should our HOA update its reserve study?
Industry best practice is a full update with a site visit every three to five years, with financial-only updates in between. Communities with aging components or recent major projects may benefit from more frequent updates.
How long does a reserve study take?
Most studies are delivered within three to five weeks of the site inspection, depending on the size of the community and how quickly we receive your financial documents.
Are reserve studies required in Arizona?
Arizona law does not currently mandate reserve studies for most associations, but boards have a fiduciary duty to plan for major repairs, and lenders, insurers, and buyers increasingly expect a current study. A reserve study is the accepted standard of care for meeting that duty.
What do you need from us to get started?
Typically your current budget, most recent reserve fund balance, any prior reserve study, and a site map or plat. We handle the rest — including the on-site inspection.
What’s the difference between a full study and an update?
A full study builds your component inventory from the ground up with a complete on-site inspection. An update refreshes an existing study’s conditions, costs, and funding plan — a faster, lower-cost option when your inventory is already solid.

Get a Flat-Fee Proposal for Your Community

Tell us a little about your association and we’ll respond within one business day — no obligation, no sales pressure.

Request a Proposal

Prefer to talk? Call 480.906.3725