Assess for Capital Improvements? Borrow? Do Both with “Split Funding”

A reader writers: Since becoming a condominium, our building has needed a seemingly endless series of repairs, most of which have been funded with special assessments. Now we desperately need a new roof and major work on our elevator. The board is divided between another assessment and a loan. I recently read an article about something called “split funding.” Is that something we could do? If so, how would it work?     Read more………..

Editor

Recent Posts

How to Choose a Property Management Company

No two communities are identical; each community has various factors which influence what type of…

5 hours ago

Untenable Tenants! How To Address Problem Renters In Your Condominium (MI)

Tenants in condominium communities are often viewed as challenging, since they may not be familiar…

5 hours ago

HOA Homefront: Is it our manager or is it us?

Many associations struggle with a poor manager relationship, resulting in frustration for both sides. However,…

7 hours ago

Dubai homeowner associations can use emergency funds to take on repair works from April 16 rains

Homeowner associations in Dubai have started to receive approvals from RERA to use their emergency/reserve…

7 hours ago

What you can expect to pay for NYC condo or co-op insurance

New York City has never been particularly cheap, and annual insurance costs make living in…

7 hours ago