Sometimes owners compare the monthly assessment in their communities with the neighboring properties (or not so neighboring) and find out they are paying much more. This, of course, is frustrating. Here is an email I recently received: “I have to ask you. Have you ever heard of $500.00 per month fees for a 1980 built [...]
Condo Law & HOA Law for Boards & Owners
Tag Archive: reserves calculation
RESERVES IN AN HOA – HOW MUCH IS NEEDED?
A question about reserves and what is required was sent to me via email today that is a very common one. And I have a solution to offer! I live in a 7 unit building. My question is – how much reserves are required for an HOA like ours? How do we figure that out? Can [...]
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I wrote the book, The Condo Owner's Answer Book to address the unique situations that come with buying and owning a condo. It also discusses your rights and responsibilities as a condo owner and a member of a homeowner's association. Includes practicial answers to more than 125 questions about condo ownership. Available now from Amazon.com.