Call Us: (248) 986-2290

      
Home2025December

December 2025

     Condominium associations frequently insure aging common elements, such as clubhouses, recreation centers, maintenance buildings, and other shared facilities, under replacement cost property insurance policies. Condominium and homeowners associations may assume that replacement cost coverage will fully fund rebuilding after a catastrophic loss. However,

Condominium associations rely on assessments to fund shared services, including building maintenance, landscaping, insurance, common utilities, and reserve planning.  Board members are legally obligated to protect the condo association’s financial health, and part of that fiduciary duty is to ensure that every co-owner pays their