Condo getaway

SAMIAM · 02-26-2021, 09:32 AM

Make sure the association has a decent cash reserve......otherwise they will assess each owner for any future projects such as roofs, paving etc
Condo associations can be almost like a time share, being able to increase fees or charging for assessment by a vote form the board of directors

phoenix · 02-26-2021, 09:39 AM

following up on Bob's comment most good associations contract periodically with an outside firm to do a reserve assessment . they look at common areas that will need spending over next 15-20 years and look at the reserves to see what % they have covered . i good indicator of likely one time assessments

02-26-2021, 09:39 AM	#2
phoenix Senior Member Join Date: Apr 2004 Location: phoenix and moultonboro Posts: 1,557 Thanks: 61 Thanked 276 Times in 194 Posts	following up on Bob's comment most good associations contract periodically with an outside firm to do a reserve assessment . they look at common areas that will need spending over next 15-20 years and look at the reserves to see what % they have covered . i good indicator of likely one time assessments __________________ it's tough to make predictions specially about the future

02-26-2021, 09:32 AM	#1
SAMIAM Senior Member Join Date: Apr 2004 Location: Moultonborough Posts: 2,911 Thanks: 337 Thanked 1,687 Times in 593 Posts	Make sure the association has a decent cash reserve......otherwise they will assess each owner for any future projects such as roofs, paving etc Condo associations can be almost like a time share, being able to increase fees or charging for assessment by a vote form the board of directors