"The health of a condo association in Boston is determined by its financial stability, physical maintenance, and operational transparency, crucial for avoiding costly special assessments. Key indicators include sufficient reserve funds for repairs, low owner delinquency rates, clear maintenance records, and adequate insurance coverage. For more information on key aspects, you should look for in a Boston condo association visit Ford Realty Inc web site or bostonreb.com web site."
"Key indicators include sufficient reserve funds for repairs, low owner delinquency rates, clear maintenance records, and adequate insurance coverage. For more information on key aspects, you should look for in a Boston condo association visit Ford Realty Inc web site or bostonreb.com web site. It is highly recommended to review the association's master insurance policy and reserve study to understand the full financial picture before purchasing."
A Boston condo association's health depends on financial stability, ongoing physical maintenance, and operational transparency to minimize the risk of costly special assessments. Important indicators include sufficient reserve funds designated for repairs, low owner delinquency rates, clear maintenance records documenting past and planned work, and adequate insurance coverage for common elements. Prospective buyers should review the association's master insurance policy and a current reserve study to understand long-term funding and potential liabilities. Evaluating financial statements, reserve levels, and maintenance histories provides a clearer picture of association solvency. Additional local resources include Ford Realty Inc and bostonreb.com.
Read at Boston Condos For Sale Ford Realty
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