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By CondoAssociation.com • November 25, 2015

Advice on budgeting for reserves in RI

condo-reserve-budgeting.jpegI am looking for a metric that helps to determine what an adequate amount of reserve funds a condo association should include in its annual budget.

For example, might it be a percentage of the entire budget, or a percentage of the total value of the property? Should the age of the property/infrastructure be a factor?

Any advice would be welcomed.

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Please note that blog comments and postings are not legal advice, rather only the opinions of our readers.
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