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All Reserve Funds Start Underfunded

Author: 
Toronto Condo News
Publication date:
September 24, 2021
Article Summary: 

The blog discusses the common issue of underfunded reserve funds in condo communities. The blog explains why reserve funds are important, and outlines the reasons why they often start underfunded, such as inadequate planning or unexpected expenses. The blog also highlights the consequences of underfunded reserve funds, such as the need for special assessments and increased fees for residents. The blog provides recommendations for addressing underfunded reserve funds, including the importance of creating a reserve fund study and conducting regular reviews of the fund.

Keywords: 

underfunded reserve funds, condo communities, planning, unexpected expenses, consequences, special assessments, fees, reserve fund study, reviews.

Source Citation: 
Toronto Condo News
All Reserve Funds Start Underfunded
September 24, 2021
https://tocondonews.com/archives/all-reserve-funds-start-underfunded/
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