Business judgment needed when budgeting for roofs (FL)

Q: Our condominium had a new roof installed following a recent hurricane. The roof was paid for by insurance proceeds and the cost to replace the roof seemed high because of the high demand at the time. We have a contractor giving us a price to replace the roofs today, and we have another owner in the community telling us to use the projected cost to replace the roof 20 years from now. How do we reserve for roofs in these economic conditions?     Read the Q&A……………………………..

Editor

Recent Posts

“It’s shameful:” Condo board asks residents to pay more than $20,000 in special assessment fees

Owners at the Regency Gardens Condominiums got notices saying their board plans to pass a…

4 hours ago

Two Rivers Services to Help Private Condo Group (WI)

Buckley says the condo association was developed with private infrastructure and the maintenance of roadways…

7 hours ago

Australia Op/Ed: There’s more trouble coming for apartment owners. Here’s why

The Netstrata insurance scandal rocked the strata management industry in NSW but that’s just the…

7 hours ago