Quote:
Originally Posted by van_driver
Just got a $13k assessment (to be paid over 10 months) for the building envelope repair. 13 year old building in dt. Anyone else have this happen in a relatively new building?
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13 years feels pretty new to have a special assessment for anything structural. That being said, that's what a contingency fund (CRF) is for, to help mitigate this kind of situation.
I lived in a 13 year old condo dt as well and one great thing about that Strata was they built a very healthy CRF over the years, which RE agents knew about, and so it made for a more desirable building on the market.