Thinking Outside the Box...
The latest survey done by Berding & Weil and The Levy Company confirms that the average community association reserves are only 53% funded. The result of this is that vital repairs—roof replacement, painting, repair of siding and trim, and similar work—may be either deferred or done in a substandard manner all because of lack of necessary funding...Once a problem has a repair price tag that exceeds the available cash in reserves, the board may not be able to easily solve the problem...
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Click on the title link to read the rest of this article.
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