Reply to Signs of a dysfunctional condo association [DC]

Forum Index » Real Estate

Reply to "Signs of a dysfunctional condo association [DC] "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

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

DC condo assn't treasurer here. 20-unit building. We had low fees because owners voted and decided we'd rather handle larger projects through special assessments, instead of building huge reserves.

That's not the case at all associations, but be careful about making assumptions that low condo fees = bad management.[/quote]

it is not necessarily a sign of bad management but then you can be hit with huge assessments when work needs to be done. i lived as a renter in a building years ago where in a couple of years all the AC pipes were changed (i.e. inside each apt the walls were opened to put the new pipes) and the outside mortar was repointed in the entire building. there was no special assessment because the condo had good reserves. see condo that fell in Florida where works were necessary but owners were assessed between $80,000 and $330,000, many could not afford it  and this was one of the reasons the works were delayed. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics