Thursday, December 27, 2007

Stealth Reserves: Tapping Unused Assessment Authority

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...

Click on the title link to read the rest of this article.

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