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Can we charge an upfront fee for reserve fund?


Question:

Do any Condo associations out there charge new owners that purchase a unit in your complex charge a fee that would go into the reserve fund? This something we are thinking about as they come in after our complex is 15 years and have never paid into our reserve fund. This is just a way of adding monies to the fund. What is a reasonable charge? we are thinking 2 months of the condo fee.


Answers (12)

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