Condo Q&A

Condo board wants to spend all reserves prior to new assessment

Written by CondoAssociation.com | Thu, Dec 29, 2016 @ 10:49 AM

Our Reserve Fund has been "tanked out" and the Board feels that according to our condo dosc that all the reserves must be spent prior to a special assessment. Why bother to separate funds if painting money can be used for roof replacement?