inowak
Global user
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Budgets/assessments
If too much money remains unexpended at the end of the year, should the owners be refunded that money. Our assessments increased 37% in two years. There have been no major inprovements to our building or landscaping.
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6/20/2007, 1:08 pm
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Re: Budgets/assessments
It could depend upon what your long term goals are for the property. As it ages major systems can be effected and money should be put into reserve to offset those expenses when they arrive. You may want to ask the Board and or Management why they are leaving excess funds in the bank, there could be a good reason that isnt being clearly defined.
Melanie Phillips, CPM Tailor Made Property Services, Inc., AMO
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7/31/2007, 1:56 pm
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