Condo getaway

bman60 · 02-25-2021, 09:05 PM

Thanks for some good things to consider. We will do our homework for sure.

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SAMIAM · 02-26-2021, 08:32 AM

Make sure the association has a decent cash reserve......otherwise they will assess each owner for any future projects such as roofs, paving etc
Condo associations can be almost like a time share, being able to increase fees or charging for assessment by a vote form the board of directors

phoenix · 02-26-2021, 08:39 AM

following up on Bob's comment most good associations contract periodically with an outside firm to do a reserve assessment . they look at common areas that will need spending over next 15-20 years and look at the reserves to see what % they have covered . i good indicator of likely one time assessments

02-26-2021, 08:39 AM	#3
phoenix Senior Member Join Date: Apr 2004 Location: phoenix and moultonboro Posts: 1,549 Thanks: 60 Thanked 273 Times in 192 Posts	following up on Bob's comment most good associations contract periodically with an outside firm to do a reserve assessment . they look at common areas that will need spending over next 15-20 years and look at the reserves to see what % they have covered . i good indicator of likely one time assessments __________________ it's tough to make predictions specially about the future

02-25-2021, 09:05 PM	#1
bman60 Member Join Date: May 2017 Posts: 30 Thanks: 16 Thanked 3 Times in 3 Posts	Thanks for some good things to consider. We will do our homework for sure. Sent from my iPhone using Winnipesaukee Forum mobile app

02-26-2021, 08:32 AM	#2
SAMIAM Senior Member Join Date: Apr 2004 Location: Moultonborough Posts: 2,891 Thanks: 334 Thanked 1,673 Times in 584 Posts	Make sure the association has a decent cash reserve......otherwise they will assess each owner for any future projects such as roofs, paving etc Condo associations can be almost like a time share, being able to increase fees or charging for assessment by a vote form the board of directors