Coming back from reserve fund shortfalls: Why the account might dip below adequate levels, and ways to replenish it

In an ideal world, condominium owners are satisfied with the way their corporation is run, fees are comparable to the condominium down the street, major repair and replacement projects are well-managed, and the reserve fund maintains a healthy balance. Then again, in a perfect world, condos never leak! The unfortunate reality is that many corporations have underfunded reserves, which can limit available options.  An underfunded reserve is one where the reserve fund contributions are not enough to cover the expenses expected to crop up over the span of the reserve fund study. This puts the long-term durability of the property at risk, will usually diminish property value, and may compromise safety.      Read the article……………


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