Buyers of condominiums and co-ops are advised maintenance of the communal areas, systems and components MAY be the responsibility of The Association. However the association is not a land lord who pays the bills out of his or her pocket when things go wrong. Most buyers do not understand the owner of the condo unit can be hit with expensive fee increases and or special assessments when things go wrong.

The parameters of the unit (common areas and exclusive use common areas) can only be determined by review of The Association covenants, conditions and restrictions. If you see any problems in these areas an inquiry should be addressed via the current owner to The Association.

Corrections of common area deficiencies will be at the discretion of The Association. We recommend obtaining and reviewing a copy of The Association's operating budget. A properly prepared budget will include a reserve study. The reserve study should be based upon an on-site condition evaluation, by an independent third party.

The study should provide information regarding the useful and remaining life expectancies and replacement costs, of the major systems and components that The Association is obligated to repair, replace, restore, or maintain. Most reserve studies or budgets will also include a statement of the available funds as a percentage of the necessary funds.