Blog

We all love the new building smell, and it’s easy to get excited about trendy lobby makeovers or gym additions. But when it comes to condo living, there is a big difference between a “want” and a “need”. While cosmetic upgrades are aesthetically pleasing, they should never come at the expense of the unglamorous essentials that keep the building running safely behind the scenes. Think of it as choosing between a new smartphone or fixing the brakes on your car, one is a luxury, the other is a non-negotiable.

This is where the Reserve Fund Study comes in as the ultimate reality check. Your reserve fund is legally set aside for major, inevitable repairs like roofing, plumbing, and elevators. Prioritizing projects based on expert reserve fund opinions ensures the building stays financially healthy and most importantly helps everyone avoid the dreaded surprise of a special assessment. Always check the budget before your rewrite the blueprint!