Condo Fee Increases Inevitable – Maintenance Cannot be Avoided

Condo fee increases are inevitable and must be paid if one wishes to continue living in their condo home. Regular maintenance and replacement of components can prevent the home from falling into disrepair, and there must be a cushion for unexpected repairs. Planning is key to avoid large increases and special assessments, and to ensure the reserve fund is at an adequate level to pay for all anticipated expenditures.