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Category:
General Building Operations
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Condo 101: Understanding Condo Reserve Funds
Author:
Associa
Publication date:
September 9, 2021
Article Summary:
In this blog, Wilson Blanchard discusses condo reserve funds and their importance in maintaining a well-functioning condominium. Reserve funds are a key part of a condo's budget, and are used to fund major repairs and replacements such as roof replacements, elevator maintenance, and repaving parking lots. The blog explains how reserve funds are calculated, how they are used, and why it is important for condo boards to maintain a healthy reserve fund. The blog also provides tips for maintaining and growing a reserve fund, including creating a long-term plan, investing wisely, and regularly reviewing and adjusting the budget.
Keywords:
condo reserve funds, budget, major repairs, maintenance, long-term plan.
Source Citation:
Associa
Condo 101: Understanding Condo Reserve Funds
September 9, 2021
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