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And keep funds in your reserve account. “Because buildings age out and you have to do capital repairs, you want some money going into reserves,” Halper says. “A good guideline is 10 percent per month should go into a reserve account. You want to carry a balance of at least three ...
anyone using this Site or the Service agrees that the Publisher may monitor the server contents periodically to (1) comply with any necessary laws, regulations or other government requests; (2) to operate the server properly; and (3) to protect itself and its users. The Publisher reserves ...
If you live in a condo, townhouse, or a single-family home in some planned communities, your home budget may include monthly homeowners’ association (HOA) fees. The fees generally cover everyday maintenance of shared facilities and may also be used for other purposes. ...
To begin putting a study together, the specialist will first go through the Declaration and bylaws to determine common elements and other specifics about the property, says Kevin Bobb, founder of Building Reserves, a reserve firm based in Chicago. “We’ll also meet with the board and manager...
” says Fernandes. “It is a ‘pay as you go’ philosophy. Rather than saving for the purchase of the next roof, for example, the reserve contribution should be considered payment for the use of the present items to date. A condition of underfunded reserves is basically unfair to future ...
The RENOVATED condo features an OPEN FLOOR PLAN consisting of the foyer, kitchen & dining, living & Florida rooms. Natural SUNSHINE streams through the HURRICANE-IMPACT, DOUBLE-PANE, THERMAL-TINTED, LOW-E WINDOWS with custom blinds ILLUMINATING the interior. The well-equipped kitche...
1. Financials A prospective buyer needs sufficient assets following a closing. Boards focus on the amount of liquid assets one has, and many of the premier buildings require one to have two to four times the value of the purchased apartment after closing. Other building boards may insist that...
We return toE.B. Whiteand his musings regarding actress and singerHelen Kane(1904–1966), who filed a $250,000 (equivalent to nearly $5 million in 2021) infringement lawsuit against cartoonistMax Fleischerand Paramount Studios, claiming that the popular Betty Boop character was based on Kane’...