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[quote=Anonymous]Every building should conduct reserve studies. These aren't cheap surveys, but essentially an engineering company will assess the state of the building and identify the state of each of the major systems (roof, plumbing, windows, facade, etc.) and outline the reserve requirements for a 30 year window. That's really the most important thing - if the building does not have a sufficiently detailed reserve study (or does not have reserves to cover the expected costs) then I would say the building is poorly managed. Having intentionally low fees is a pretty slimey thing to do, where basically each owner is hoping to pass the issues on to the next owner.

I would say ask for the most recent reserve study, details of the current state of reserves, and inquire about the dates and details of the most recent renovation projects.  Additionally, small details like a well maintained garden, clean trash areas, lack of trash/bulk items in the common areas, and a clean lobby can proxy for a board that at least attempts to care a little bit.

That said, 4-6 units is tough, because one or two people can really throw the building either in one direction or the other.  With a building that small, I would hope that there is at least one owner that is there 'long-term' or has been there some time and has knowledge of the history and details of the building.[/quote]

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