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What are Reserves?

Reserves are money which a condominium board collects regularly from owners to pay large, future expenses which result from the deterioration of the condominium project over time - for example, the costs of repairing or replacing the roof and elevators. A board which does not assess the owners regularly for reserves must make periodic special assessments for money to pay for those large expenses.

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Supervising Executive Officer

Neil K. Fujitani