Running the building – that’s a task most people don’t consider while shopping for a new condo apartment. When newly constructed condominiums first open, the property’s sponsor is usually in charge of everything from the financials to operations to repairs. And when unit-owners finally do form a board and take over, the transition can be overwhelming. A brand-new crew is suddenly entrusted with running a business with lots of moving parts and a budget in the millions of dollars. But there are a few basic steps new condo boards can follow to make the transition easier Read the article…………………
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