The reserve account consists of funds put aside in “reserve” for the replacement of major components of a community’s common property (aka “assets”). Typically the reserve account is used to replace asphalt paving, concrete sidewalks, roofs, central heating and cooling plants, swimming pool, tennis courts, elevators, and many other property components. Revenue raised for adding a major item will be a major improvement expense; revenue raised for replacing that item when it deteriorates will come from the reserve account. Read the article……………………
After rising floodwaters forced Danielle Rayner to evacuate her rented townhouse in Abbotsford, B.C., in…
A residential area near the Hampton Country Club in north-central Iowa has for years exceeded…
For condominium communities, the Condominium Authority Tribunal’s jurisdiction will be expanded to cover a broader…
The unofficial start of summer is here. As we prepare to observe Memorial Day—a day…
Condo and co-op living comes with its own set of challenges, especially when it comes…
“Condo” might as well be a four-letter word in Black neighborhoods. We all knew the…