Money Doesn’t Grow on Trees, or Does It?

What can a condominium do when it is facing a large deficit or an unexpected repair project has depleted the reserve fund? Typically, the condominium would levy a special assessment or increase the monthly fees. In some cases, a loan might be the best option for the condominium and its owners.  Some condominiums have found creative ways to generate extra revenue to offset expenditures and avoid (or reduce) deficits. Some of the ideas work better when the deficit is small and there is at least some advance warning of it.    Read the article………….


Related Articles

HOA HOMEFRONT: Tips for avoiding financial abuse

Some associations suffer damage from financial abuse, which can be every bit as devastating as a fire, except that this

Bill 106: Fixing Quorum (2 of 2)

In our first blog entry on quorum, we dealt with the changes proposed in Bill 106 relating to how quorum

Can a Condo Board Prevent New Telecommunication Companies from Offering Services?

This leaves condominium Directors with a significant amount of discretion and autonomy to make decisions relating, amongst other things, to the kinds of services that are utilized by each owner and resident.