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Underfunded Reserve Funds

Author: 
Toronto Condo News
Publication date:
January 28, 2018
Article Summary: 

The blog post discusses the consequences of having underfunded reserve funds in condominiums. It emphasizes the importance of maintaining adequate reserve funds to ensure timely repairs and replacements of shared elements within the building. It also outlines the potential risks of underfunding, such as safety hazards, lower property values, and unexpected special assessments. The post concludes with some strategies to address underfunding, including increasing contributions to the reserve fund, seeking financing options, and implementing cost-saving measures.

Keywords: 

underfunded reserve funds, condominium, repairs, shared elements, special assessments, property values, safety hazards, financing options, cost-saving measures.

Source Citation: 
Toronto Condo News
Underfunded Reserve Funds
January 28, 2018
https://tocondonews.com/archives/underfunded-reserve-funds/
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