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The Importance of Annual Capital Repair Planning
Author:
Lyndsey McNally
Publication date:
September 30, 2021
Article Summary:
The article emphasizes the importance of annual capital repair planning for condominium corporations. While the Reserve Fund Study (RFS) provides guidance, annual planning allows for adjustments based on changing conditions and expenses. The article suggests getting organized by compiling RFS estimates, actual expenses, and conducting a visual inspection. Prioritization and discussion of projects help make informed decisions. Transparency with owners and property management is crucial, and adjustments may be necessary along the way. Engaging experts and realistic assessment of options are advised in case of significant variances.
Keywords:
Annual capital repair planning, Reserve Fund Study (RFS), condominium corporations, expenses, prioritization, transparency, property management, adjustments, expert engagement, decision-making.
Source Citation:
Lyndsey McNally
The Importance of Annual Capital Repair Planning
September 30, 2021
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