Reserve fund minimums vary according to each condo corporation

Q. Is there a specific amount of money required by all condo corporations to be in the reserve fund account? I don’t want to buy a condo that is financially stressed because of an inadequate reserve fund. How do I know what amount is sufficient? This is my first condo so I do not want any unpleasant surprises like huge special assessments.    Read the Q&A………….


Related Articles

Can they charge an elevator-usage fee when we move into or out of our condo

Q When I moved into my condo several years ago, I was not charged any fee to book the elevator.

Videos show events before B.C. RCMP arrest of elderly couple

The RCMP officers called to the scene of a raucous condo meeting in Coquitlam, B.C. are under investigation for their

Condo Smarts: Amendments shift strata voting rules

Repairs: Recent legislation makes it possible at some times to go ahead with only 50 per cent support    Read