Day: October 25, 2016

What Successful Associations Do: Master the Reserve Study

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What is a reserve study? A reserve study is an assessment of all of the community’s common elements, and includes an inspection and analysis of the remaining useful life of items the association is responsible for maintaining, such as roofs, concrete, mechanicals, fencing, and much more. Most reserve studies will cover 20-30 years’ worth of projects. After this information is assessed, a funding plan is created to estimate the …

Condo Association Budget Tips for Owners – Better Condo Life

 

Condo Association budget season is in full swing.  Condo Association Boards and Management are busy developing their budgets for the new year.  Ideally they are eliminating waste, identifying high-value projects, and putting enough into reserves.  While Boards are hard at work, this is also a great time forinvolved Owners to review their Association’s budget when it is distributed during the budget comment period.  But budgets can be daunting, and Owners …

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