Heading 5
Heading 5
Heading 5
Heading 5
Heading 5
Heading 5
Heading 5
Heading 5
Heading 5
Choose your role:
Category:
Save this article >
Reserve Funds
Author:
Michael Lewicki
Publication date:
October 8, 2021
Article Summary:
The article emphasizes the importance of the reserve fund in condominium living and its impact on the marketability of condo units to potential buyers. It explains that the reserve fund ensures the upkeep of common elements and contributes to the long-term care and value of the condo community. Delays in common element maintenance can lead to costly fee increases and affect future unit valuations. Condo directors and managers need to manage both the short-term operating fund and the long-term reserve fund effectively to show prospective buyers that the community is well cared for and well managed, making it more attractive to potential purchasers.
Keywords:
Reserve Fund, Condominium Living, Common Elements, Maintenance, Marketability, Condo Unit, Condo Community, Condo Directors, Condo Managers, Upkeep, Fee Increases, Unit Valuations, Operating Fund, Long-Term Planning, Homeownership, Financial Management, Community Care.
Source Citation:
Michael Lewicki
Reserve Funds
October 8, 2021
Did you find this article useful?
Your feedback is important not only to us, but to all the other key players in the condo industry. Help us by letting us know if this article is relevant and useful. This will help us prioritize articles that provide helpful guidance to other key players like you.
Please login to use this feature.
