Condominium Management – Breakout the Reserves

Condominium management frequently deals with the reality of major repairs unfunded by adequate reserves. The “pay as you go” philosophy wins out over more sensible planning for anticipated future expenses.

A recent study by Association Reserves, a California firm with national offices, recently reported on their study indicating that 70% of Condominium associations have underfunded reserves – a 12.5% increase over the past ten years. Further details can be found at http://tinyurl.com/n5mott8.

A high rise condominium community

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