Cities are going bankrupt because they didn’t project their funding needs into the future—will community associations be next?

An assumption of a building component’s “infinite life” is permissible under most states’ statutory reserve requirements. Only those components that are visible and accessible are required to be studied, the rest are assumed to have an infinite service life unless until a problem is discovered. As a result, most reserve studies are only surficial, a visual observation of the condition of the exterior building components. Read More……


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