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Should condo association take loan from owner for repair project?


Question:

I live in a 10 unit condo in California, we have for years needed to do dry rot and termite repairs and currently this is underway again. In our condo reserve we are scheduled to replace decks at 2 units next year, however work is going on at one of these units and the homeowner offered to loan the condo association the money to install the decks this year and avoid having another set of contractors come in and be able to use the existing scaffolding. Is there any reason not to accept this offer?


Answers (8)

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