Condo owners and board members may have heard the term “70 funded reserve”, and wondered what it meant, as well as whether it was a requirement or a guideline. Condominium reserve funds set aside money specifically for significant future expenditures, such as major repairs or replacements of common elements such as roofs, elevators, parking structures, […]
An effective and well-funded condo reserve fund is critical to allow condo boards to complete planned repairs and unexpected work promptly. It ensures financial preparedness, preventing the need for special assessments and minimizing disruptions to residents. A robust reserve fund protects a property's integrity and enhances the overall value and attractiveness of the condominium community. […]
Managing a condominium's financial health is a key responsibility for condo boards. To ensure long-term financial stability, it is critical to establish and maintain a robust reserve fund. A condo board reserve fund calculator can be a useful planning tool, but should be viewed as an informative exercise only. For an accurate and reliable reserve […]
A reserve fund study is completed to assess the long-term capital needs of a property, helping a condo board or other association create a cost-effective plan for maintenance and repair needs and ensuring the organization has sufficient funds to pay for costs as they arise. As part of this proactive tool for property management, there […]
From testing to rehabilitation, our trained specialists can help protect your buildings. Call our engineering firm today to speak to a Building Envelope Consultant.
