10 Questions to Ask Your Condo Board

Before you buy, contact the condo board with the following questions. In the process, you’ll learn how responsive—and organized—its members are.

1.      What percentage of units is owner-occupied? 

2.      What covenants, bylaws, and restrictions govern the property? 

3.      How much does the association keep in reserve? How is that money being invested?

4.      Are association assessments keeping pace with the annual rate of inflation? 

5.      What does and doesn’t the assessment cover—common area maintenance, recreational facilities, trash collection, snow removal?

6.      What special assessments have been mandated in the past five years? 

7.      How much turnover occurs in the building?

8.      Is the project in litigation?

9.      Is the developer reputable?

10.  Are multiple associations involved in the property?