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He mentioned that sure repairs, like concrete restoration, could end up costing tens of countless dollars. When the board hasn’t saved enough to include the Invoice, the price will drop on the shoulders of condo owners.
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structures which might be previously 30 yrs or more mature should have inspections concluded before the finish from the year.
— Beef up disclosure demands for condo homeowners aiming to sell their models. productive Oct. one, house owners ought to supply possible potential buyers With all the condo association’s once-a-year financial statement and annual fiscal report.
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— call for new board directors to go through four hours of mandatory education on inspections, recordkeeping, economic literacy and even more. All directors need to undergo one hour of constant training per year.
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Mandate that condo boards hold 4 meetings a yr with dedicated time for device owners to talk to thoughts.
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