Reserve Fund

Financial Issues, Budgets & Reserves• May 1, 2023

Underfunded Reserves? How your Condominium Association Can Qualify for a Community Association Loan

Nearly 2 years after the Surfside collapse, the New York Times recently reported that a 35-unit condominium in North Bay Village, Florida was ordered to be evacuated after an engineer deemed the condominium to be structurally unsound.  The engineering report provided to North Bay Village officials indicated that the Majestic Isle Condominium had serious structural issues due to termites and…
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Financial Issues, Budgets & Reserves• March 4, 2016

The Role and Importance of the Reserve Study in Determining an Appropriate Reserve Fund

Introduction A well-run condominium can be thought of as having two components: (1) physical assets, which are the buildings, structures, and grounds on which the condominium is located; and (2) financial assets, which are the funds necessary to maintain the condominium’s physical assets. So long as the financial assets are adequate to meet the maintenance needs of the physical assets,…
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