Tuesday, May 06, 2008

Are Owners stealing value by underfunding reserves and then selling out?

Click on link in the title for entire article at the condoissues blog.

"All condominium associations face the problem of high and ever increasing costs to maintain a condominium project, including reserves. To compound the problem, a number of condominium boards cannot, or will not, make 'hard and unpopular' decisions of raising maintenance fees to meet this problem and facing any criticism.

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