Neglected condo corporations
“I’ll never buy a condo again”
— Roza Zarik owner 40 Panorama Court
This chapter explains why condos run into trouble due to low condo fees, exhausted Reserve Funds, corruption, absentee landlords and owner apathy.
Will "troubled condos" dig themselves out of dire financial straits when the
owners realize that hefty monthly payments are required to make up for the years of lean fee increases?
More importantly, will owners in newer and healthier condo corporations learn to avoid falling into the spiral of low fees causing future grief?
Condos in decline
Terminating a condo corporation