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What exactly can condo association deferred maintenance and unallocated interest accounts be used for? I've always understood that these 2 accounts can be used for any reserve spending, such as elevator upgrade, painting, carpeting, roofing, paving, etc.
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What is the best policy for investing condo association reserve funds? Should we do CDs, bonds, or equity?
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We have a special assistant to the treasure going and "collecting" dues the day after from other Condo Association Members. She is demanding payment and intimidates older owners into paying, and the board won't tell her to stop. Is this discrimination?
I am an owner in a condominium association that is self-managed. I have agreed to help the Board of Directors with a spreadsheet that will track dues, payments, late charges and interest charges. The attorney for the association says that a simple interest calculation should be used instead of a compounding calculation. I am a software developer and have programmed both simple and compound interest for mortgages, etc., but I am not sure of how simple interest is calculated on dues and late charges. Can anyone help me with a specific step-by-step procedure?
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