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RESERVE FUND STUDIES – WHAT ARE THEY?
Author:
CondoGenie
Publication date:
Article Summary:
The article explains the concept of a Reserve Fund Study in the context of condominium corporations. It describes a Reserve Fund Study as a document that assesses the current funding of a condominium corporation and makes recommendations for future funding. The study evaluates the common property, determines quantities and condition, and identifies the need for major repairs or replacements. The article highlights the importance of having a reserve fund and study to protect the investment of property owners and prevent devaluation of individual units. It also provides insights into the process of conducting a Reserve Fund Study, includes information that should be included in the study, and offers guidance for selecting a study provider.
Keywords:
Reserve Fund Study, condominium corporations, common property, funding, major repairs, replacements, reserve funds, property owners, investment protection, devaluation, need assessment, reserve fund report, study process, study provider, construction inflation, contingency,
Source Citation:
CondoGenie
RESERVE FUND STUDIES – WHAT ARE THEY?
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