Reply to Signs of a dysfunctional condo association [DC]

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]A lot of rentals.  Low condo fees.[/quote]

I wouldn't say "a lot of rentals" is a red flag at all.  Low condo fees I agree with. [/quote]

OP here: why low fees is a red flag? for such small condo associations tthe expenses are small- no gyms/pools/gardens/ etc, no staff on call ...I would say the opposite if the condo fees are large- where the money  are going to? [/quote]

There is likely no build up of reserve funds for when something very expensive goes wrong and needs to be fixed (and it will).  You need to have a very healthy reserve fund for repairs and unforeseen expenses.  Otherwise you can end up with huge special assessments.[/quote]

Also, choosing to keep fees low now and run special assessments in future is effectively borrowing from future owners.

Current owners don’t pay. Future owners do, when something goes wrong.[/quote]

OP here: I think I like small reserves and shifting the responsibility to future owners  as I do not intend to live in the condo for more than 6-8 years [/quote]

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