What's Hot: Barnes and Noble Will Return to Georgetown in June | The 3,000 Units On The Boards From Trinidad to Gallaudet
UT Reader Asks: What is the Best Way to Increase Reserves For My Condo Building?
In this installment of UrbanTurf Reader Asks, a reader who lives in a small condo building inquires about the best (and easiest) way to increase the building's low reserve fund.
I own a two-bedroom condo in a five-unit building in Dupont Circle. I purchased the unit in 2010 and have loved everything about living here. The one issue is that the building's reserves are pretty low. Right now, the fund stands at about $10,000. Our monthly condo fees are $225 and there is talk of increasing that to $250.
I know that the most obvious way to raise funds would be to increase the condo fees significantly, but I also know that would be tough on two other owners in the building. Have any UrbanTurf readers dealt with this issue and come up with a better resolution? Thanks!
Readers, what do you think? Post your thoughts in the comments section. If you would like to submit a question for UrbanTurf Reader Asks, send an email to editor2013@urbanturf.com.
See other articles related to: urbanturf reader asks
This article originally published at https://dc.urbanturf.com/articles/blog/ut_reader_asks_what_is_the_best_way_to_increase_reserves_for_my_condo_build/9375.
Most Popular... This Week • Last 30 Days • Ever
Rossdhu Gate is the remaining piece of a 30-room castle built by socialite Daisy Calh... read »
As profits drop around the country, sellers around DC are still realizing hefty retur... read »
A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »
The Gen Z market; ranking food halls around DC; and is this the new king of Queens?... read »
The term "luxury" has been applied broadly in the housing market, but a new report ai... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro