Condos Must Reserve To Preserve — And Get Loans

The recent front page Washington Post article on the financial problems condominiums are facing prompted me to write this column about the absolute necessity of maintaining adequate reserves. And it is especially timely since associations are starting to prepare next year’s budget.  Every community association should have money set aside “in reserve” to cover the cost of emergency or major repairs. Reserves are — or should be — an essential part of every community association.     Read the article…………..