Often condo declarations state that some building components are to be paid for exclusively by one group of owners. This may include all residential owners, or all owners within a single building. This means that reserve contributions for those components must come only from the units to which the cost is allocated. We frequently see reserve…
Tag Archive: reserve study
Reserve Study Law Changes
Effective January 1, 2012, changes in Washington’s reserve study laws will go into effect. These changes, among other things, affect the content of reserve studies, add reserve study reporting requirements to the budget summary associations must provide to owners, and extend reserve study requirements to HOAs with “significant assets.” Over the next few weeks, we…
Tag Archive: reserve study
Reserves for Mixed Use Building & Limited Common Elements
Often condo declarations state that some building components are to be paid for exclusively by one group of owners. This may include all residential owners, or all owners within a single building. This means that reserve contributions for those components must come only from the units to which the cost is allocated. We frequently see reserve…
Reserve Study Law Changes
Effective January 1, 2012, changes in Washington’s reserve study laws will go into effect. These changes, among other things, affect the content of reserve studies, add reserve study reporting requirements to the budget summary associations must provide to owners, and extend reserve study requirements to HOAs with “significant assets.” Over the next few weeks, we…