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condo assessment

  • Permalink

    What You Need to Know About Being a Condo Owner

What You Need to Know About Being a Condo Owner

By Ilyce Glink| 2018-11-15T09:27:13-06:00 November 15th, 2018|

What you need to know about being a condo owner: from the condominium association to voting on assessments, what’s expected of the owners? Q: As a new condo owner for last two years, I have enjoyed your recent column in our newspaper on condominium issues. I own a small condominium in a mid-sized building in [...]

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    How are Condo Assessments Determined?

How are Condo Assessments Determined?

By Ilyce Glink| 2018-10-26T16:27:46-05:00 October 26th, 2018|

This reader wants to know how condo assessments are determined because they don’t think their building developer got the ownership percentage split right. Q: Our building has six units, all the same size and layout. It is located in Illinois. The assessment percentage was designated by the builder and laid out in the declaration of [...]

  • reserve funds condo requirements
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    Reserve Funds for Condos | What Are the Requirements?

Reserve Funds for Condos | What Are the Requirements?

By Ilyce Glink| 2019-11-26T16:00:44-06:00 April 19th, 2013|

Reserve funds for condos: what are the requirements? Mortgage lenders pay closer attention to reserve funds for condos as requirements have increased. Q: In trying to sell a condominium, the buyer was denied a loan due to the fact the condo/management association did not transfer 10 percent into the reserve fund. What are the requirements [...]

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