Recent article by Paul Huijing, P.E. published in Community Associations Institute - Connecticut Chapter publication "Common Interest".
Community association trustee board members may ask why they need a reserve study. Some unit owners may also ask. Professional property managers will likely recommend a reserve study to fulfill their advisory role. All concerned parties should ask, but some involved may not know the importance of the question.
There are many answers to the question depending on your involvement with an association. I will highlight the following motivations in this introductory article:
• Fiduciary duty
• Aesthetics and property values
• Stable and logical financial planning
For full article with more detail see here ...