Virginia community association law
Reserve studies & funding
Va. Code § 55.1-1826 (POAA)
What the law requires
Virginia POAs must conduct a reserve study at least once every five years and review it annually, and the annual budget must provide for the periodic repair and replacement of the capital components the association is obligated to maintain.
What it means for boards & managers
Treat the five-year study plus annual review as a hard compliance cadence, not a best practice. Then fund the reserve the study supports.
This summary is for orientation and is not legal advice. Statutes are amended; confirm the current text of Va. Code § 55.1-1826 (POAA) with the official Virginia code, and consult counsel for specific situations.
Put your association on Common Elements
Boards and managers in Virginia use Common Elements to compare vendors and run structured bids. Browsing the directory and statute reference is free.