The State Legislature has proposed an amendment (HB 5461) to the reserve study bill that passed in 2008. The amendment would exempt associations that have fewer than 11 units.
There are four obvious flaws with the amendment. One, any association that faces an unreasonable hardship in obtaining or updating a reserve study can opt out. Two, it’s not the number of units but the scope of the capital infrastructure that should determine whether an exemption is advisable. Three, it erroneously uses the adverb “less” rather than “fewer”. And four, the reference to limited common elements makes no sense.
Here’s the relevant language of the bill:
7 A condominium association that has ten or less units and limited
8 common areas is not required to follow the requirements under RCW
9 64.34.380 through 64.34.390.