Capital reserve fund exists to minimize special assessments

Q: Due to mismanagement over the years, the monthly fee on a condo my sister purchased in 2005 increased from $350 to $436 to $644 per month following an assessment in January 2015. Is this allowed? The reserve fund was not kept up until recently. What is the required amount for a reserve fund?     Read the article…………….


Related Articles

HSBC drops North Vancouver condo’s account

A North Vancouver strata council is joining a growing number of small-business clients across North America that are being dropped

Wind damage at Guelph condo building closes a portion of Gordon Street

City police have closed a portion of Gordon Street in Guelph’s south end over a problem created with high winds

Condo Smarts: Manager has it wrong

Dear Tony: We had our AGM on Saturday, and our property manager ended up chairing our meeting. The manager also