Two statutes, neither with a study mandate
Georgia associations sit under one of two laws, or under neither. The Georgia Condominium Act (O.C.G.A. 44-3-70 and following) governs condominiums created under it; CAI's chart notes it applies to condominiums established after October 1, 1975. The Georgia Property Owners' Association Act (44-3-220 to 44-3-235) governs subdivisions and townhome communities whose declaration submits to it. Many older HOAs are governed only by their recorded covenants.
Neither act requires a reserve study, sets an interval for one, or names who may prepare one. CAI's May 2026 chart of state condominium reserve laws marks Georgia "No" for a study requirement and "No" for a funding requirement, while noting that Georgia does have budget and resale disclosure rules.
What the Condominium Act does say
Reserves while the developer is in charge
Under 44-3-80(d)(4), while the declarant controls the association, start-up money and contributions to capital reserves collected at closing, plus assessments earmarked for reserves, must go into one or more separate reserve accounts. They cannot be spent on common expenses unless owners of units holding two-thirds of the votes, leaving out the declarant's units, agree.
A limit on special assessments
For condominium instruments recorded on or after July 1, 2015, 44-3-80(g)(1) stops the board from imposing a special assessment per unit of more than one-sixth of that unit's annual common expense assessment in a fiscal year "without the approval of a majority of the unit owners". Some charges are excepted, including costs of limited common elements and other items charged to particular units. Subsection (g)(2) also ties increases in monthly fees to the consumer price index. The practical effect: a board cannot fund a large roof or paving job by assessment alone without an owner vote. The special assessments page works through the numbers.
On $325 monthly dues, one-sixth of a year's assessment is $650 per unit. A $480,000 roof across 120 units is $4,000 each before any price increase.
The first buyer's budget
When a unit is first sold, 44-3-111 requires the seller to provide the condominium's current-year operating budget. Its list of expenses includes a reserve for deferred maintenance, a reserve for depreciation and other reserves. For a conversion condominium the declarant must also give a statement, based on a report by an independent registered architect or engineer, on the condition of the structural components and the mechanical and electrical systems.
On resale
Georgia has no statutory resale certificate for condominiums. Section 44-3-109(d) obliges the association, on written request from an owner, a buyer under contract or a lender, to state unpaid assessments, late charges and interest within five business days; a fee of up to $10 may be charged if the instruments allow it. Anything more a buyer learns about reserves comes from what they, their agent or their lender ask for.
The Property Owners' Association Act
The POA Act covers voting, amendments, liens and collection. Section 44-3-225 says expenses for periodic maintenance, repair and replacement of common areas cannot be specially or disproportionately allocated except where the instrument allows. It contains no reserve funding rule and no study requirement.
New in 2026: the Property Owners' Bill of Rights Act
Senate Bill 406, the Georgia Property Owners' Bill of Rights Act, was signed on May 12, 2026. According to the Secretary of State, its changes to amendment voting and foreclosure procedures took effect on July 1, 2026, and owner rights, registration and due process start on January 1, 2027. From that date an owners' association, condominiums included, must register through an online portal before it can collect fines or fees, file liens or start foreclosure. The Secretary of State can deny or revoke registration, limit fines and bar individuals from serving on a board, and owners gain an administrative hearing route.
None of that requires a reserve study. It does mean the state will be looking at associations' paperwork for the first time, and boards that keep orderly records and a defensible budget will find registration easier. The rules are still being drafted; check the Secretary of State's page and the association's attorney for what your association must file.
Where that leaves a board
With no statute setting a number, the reserve figure in a Georgia budget is the board's call. The parties who test that number are outside the statute book: mortgage lenders reviewing condo projects, insurers pricing roofs, and buyers deciding whether to pay your asking price. A study is the usual way to show your number was worked out rather than guessed.