Underfunded reserves are one of the most critical issues facing condominium associations today. While there are a million and one reasons why this problem is so pervasive across the country, ultimately the root cause comes back to a condo board’s overly optimistic or poorly informed view of what it costs to maintain the common elements of their community. Case in point. When talking to other
Read more The Hidden Risk of Using Fannie Mae's "10% Rule" for Funding Condo Reserves
Archives: February 2024
Here’s a question that most condominium owners would prefer to never have to answer. How adequate is your association’s reserve fund? Can it meet it’s repair and replacement obligations? On the one hand, you probably don’t want to know because there is a high probability the answer is not good. On the other hand, you better find out. Quickly. Underfunded reserves can have a significant
Read more How adequate are your HOA's reserves?