Category Archives: Community Finances

The Reserve Fund

What is a reserve fund?  A reserve fund is money set aside to maintain a community’s major common areas, equipment and facilities.  The fund is used to repair or replace assets as needed over the life of a community.  In … Continue reading

Posted in Community Finances | Tagged , , , , , , , , , , , , , , , , , | Leave a comment

What? The Association Is Foreclosing On My Condo?

Countless Americans face foreclosure when their lending institutions are unable to collect mortgage payments. In an ideal world, no one would ever face foreclosure—for any reason. But that world does not exist. Banks and other lenders foreclose on homes when … Continue reading

Aside | Posted on by | Tagged , , , , , , , , , | Leave a comment

Understanding Special Assessments

There’s no way to sugarcoat it: everyone hates special assessments. Getting a notice that you owe more money to the association can not only put a damper on your day but also a dent in your wallet, both of which … Continue reading

Posted in Community Finances | Leave a comment

Assessments, Assessments, Assessments!

As a community manager and condominium owner/volunteer, I many times hear reoccurring questions and comments.  Why is the Board raising our dues again this year? What can we do?  Do we have to pay? Our dues are much higher than … Continue reading

Posted in Best Practices, Community Finances, Community Living | Tagged , , , | Leave a comment