photo by Jeff Vincent
“Dear PoPville,
I have recently taken over as board president in my small condo building in the DC area. The previous board president had lived here 30 years, and basically managed the property himself. He did a great job keeping up with everything, but in a very haphazard way. So we have money in the bank, but no idea when,
for example, the building needs to be painted or the roof needs to be fixed and how we’ll pay for it (assessments vs. reserves). I’m thinking it’s probably time for a reserve study to make sure that we’re being fiscally responsible. Any recommendations for somewhere that will do a good study for not a gazillion dollars for an under 10 unit building in dc would be appreciated.”