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Condo association reserve fund vs. maintenance fund

| Budgets & Finance |   Condo Reserves |  


Question:

We live in a 128 unit condo complex, each building housing 8 units. The Property management and Board want to re-asphalt the entire area. (only 5 of the parking lots need this.) The board feels this comes out of Reserve fund. Please clarify, I thought maintenance fund. It is a mess. Board is proposing dollar options to unit owners before sending out for 'bids' of this project. Pleas advise. Board meeting upcoming. Thank You.


Answers (18)

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