How often must a Tennessee reserve study be updated?

Update interval: 5 yrs. Site visit: Not required.

What must a Tennessee association disclose about reserves?

Study emailed or posted to all owners. Applies to: Condos created after Jan 2009, components > $10k.

State profile

Tennessee

Yes

Since January 2024, Tennessee condominium boards overseeing common elements worth more than $10,000 must have a reserve study conducted by a credentialed reserve specialist or a licensed engineer or architect, updated at least every five years, shared with every owner, and reviewed annually for funding adequacy. The mandate lives in the Condominium Act of 2008, so it reaches only condominiums created after January 1, 2009 — or older communities that elected into the 2008 Act. Tennessee requires the study and the review, not any funding level, and attaches no penalty for noncompliance.

Update every

5 yrs

Site visit

Not required

Applies to

Condos created after Jan 2009, components > $10k

What your board must do

01Have a reserve study conducted if the board oversees common elements with an aggregate replacement cost exceeding $10,000 — boards with a study from on or after January 1, 2020 must update it within five years and at least every five years thereafter; boards without one owed a study by January 1, 2025 (TCA §66-27-403(g)(1)-(2)).

02Use a qualified preparer — a reserve specialist credentialed through the Community Associations Institute or a similarly recognized organization, or a licensed engineer or architect, working to CAI's Reserve Study Standards or similar national standards; the statutory definition leaves no room for board self-preparation (TCA §66-27-203(21)).

03Cover the required scope — the remaining useful life and estimated replacement cost of each separate system and component of the common elements (§66-27-203(21)); the statute does not mandate a site visit.

04Make a copy of the study available to all owners by email or by posting it on the community website (§66-27-403(g)(3)).

05Review the reserve funding annually for adequacy (§66-27-403(g)(5)) — Tennessee mandates the study and the annual review, not funding at the study's recommended level, and no statutory penalty attaches to noncompliance.

06Check which law governs your community — the mandate applies to condominiums created after January 1, 2009 under the Condominium Act of 2008, and to older condominiums only if they elected into that act (§66-27-202(a), (c)); pre-2009 communities under the Horizontal Property Act have no statutory reserve study duty. Declarant-controlled boards, single-owner condos, and tenancy-by-the-entirety couples are exempt (§66-27-403(g)(4)).

Quick answers

Does Tennessee require a reserve study?: Reserve study required. Yes. Since January 2024, Tennessee condominium boards overseeing common elements worth more than $10,000 must have a reserve study conducted by a credentialed reserve specialist or a licensed engineer or architect, updated at least every five years, shared with every owner, and reviewed annually for funding adequacy. The mandate lives in the Condominium Act of 2008, so it reaches only condominiums created after January 1, 2009 — or older communities that elected into the 2008 Act. Tennessee requires the study and the review, not any funding level, and attaches no penalty for noncompliance.
How often must a Tennessee reserve study be updated?: Update interval: 5 yrs. Site visit: Not required.
What must a Tennessee association disclose about reserves?: Study emailed or posted to all owners. Applies to: Condos created after Jan 2009, components > $10k.

Statutes

TCA §66-27-403(g)Study mandate, five-year cycle, owner distribution, review TCA §66-27-203(21)Reserve study definition — preparer credentials and standards TCA §66-27-202Applicability — post-2009 condominiums and opt-in elections

Last statutory change Jan 2024 · Page reviewed Sep 2026 · Not legal advice