Tag: Condo Reserve Account
Condo HOA News, Tips and Updates
The Washington State Legislature proposes increasing the Resale Certificate fee & revising reserve study guidelines; advice for planning repairs and handling delinquencies from owners and banks.
Condo Legislative Update – Reserve Studies
A couple of interesting bills are easily moving through the House and Senate concerning condominium reserve studies and reserve accounts. A reserve account is supplemental to an association’s annual operating budget and is used to fund major maintenance, repair and replacement of common elements. The purpose of the reserve account is to offset the financial…
