The preparer must meet one of four tests: 30 reserve studies in the prior three calendar years, 30 studies taken part in while working at a reserve study firm, a current Maryland architect or engineer license, or a CAI Reserve Specialist or APRA Professional Reserve Analyst designation.
The four tests
- Experience: has prepared at least 30 reserve studies in the three calendar years before the study.
- Firm experience: has taken part in at least 30 reserve studies in those three years while employed by a firm that prepares them.
- License: holds a current license from the State Board of Architects or the State Board for Professional Engineers.
- Designation: is a Reserve Specialist (RS) with the Community Associations Institute or a Professional Reserve Analyst (PRA) with the Association of Professional Reserve Analysts.
Any one is enough. The same tests apply to updated studies since the 2025 changes.
What to ask before you sign
- Which of the four tests does the person who will sign the study meet? Ask for the license number or designation.
- Who visits the site, and for how long?
- Will the study include a funding plan using one of the methods the statute lists, and will the preparer attend a board meeting to explain it?
- How does the firm treat items the declaration leaves unclear, such as windows or driveways?
- What will the next five-year update cost?
Can our manager or an owner do it?
Only if they meet one of the tests. A board member who happens to be a licensed engineer qualifies on paper, but most boards prefer an outside preparer so the figures cannot be read as the board marking its own homework.
We keep a list of firms that say they work in Maryland, or ask below and we will name one that works in your county.