Our condo is valued at ~$100,000 and others range from that to $125,000 during a good housing market. Our
condo management says the condo association is responsible for the exterior (in case of fire damage, etc.) but we, as owners, are responsible for the $5,000 deductible on their insurance, if there is a fire, storm, etc. damage. Sounds questionable to us! Does that sound credible? Also, the condo board says they are going to have to re-finance the siding loan from damage of 10 yrs ago? We are just trying to figure out why would there be a siding loan if there was
insurance during the last bad hail storm. We plan to attend all future Board meetings and get answers. Any info you can share would be very much appreciated. CAP
