Condo Culture: Ignoring reserve fund study puts property values at risk

Q: Our condo conducted its first reserve fund study and received recommendations for contribution increases to the fund. Instead of following the recommendations, our board of directors presented a plan to fund the increase over 17 years, rather than over two years as the reserve fund study indicated. Does the board of directors have the mandate or authority to override the recommendations of the reserve fund study?    Read more…….

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