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Back to the Basics - Common Expense Fees
Author:
Debbie Dale
Publication date:
July 8, 2022
Article Summary:
The article discusses techniques to alleviate fear and uncertainty surrounding inevitable condominium fee increases. It emphasizes the importance of educating and informing owners about the breakdown of common expense fees through methods such as pie charts. Sending information to owners in advance of budget issuance helps prepare them for potential increases. Boards can also collaborate with the Reserve Fund Planner to align their goals with the Reserve Fund Study. Energy efficiency and cost-saving measures are encouraged, along with proactive insurance shopping well before the current policy expires. By keeping owners informed and engaged, the board can address financial matters with confidence.
Keywords:
Condo fees, Common expenses, Education, Information dissemination, Budget preparation, Reserve fund project, Reserve Fund Planner, Energy efficiency, Cost-saving, Insurance shopping, Financial matters, Board preparation, Owner engagement.
Source Citation:
Debbie Dale
Back to the Basics - Common Expense Fees
July 8, 2022
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