Read the Reserve Study

The reserve study tells you what major components the association will need to replace and whether it has saved enough to do so. An underfunded reserve is a special assessment waiting to be scheduled.

Ask About Pending Litigation

Associations involved in construction defect or other litigation can be difficult to finance, because some lenders decline to lend in those buildings. This surfaces in the disclosure package, which is why the package deserves a full read.

Special Assessments Are Not Rare

Roofs, elevators, plumbing risers, and seismic retrofits all arrive eventually. Ask what has been assessed in the last decade and what the board has discussed for the next, then read the recent minutes to check the answer.

Rental and Use Restrictions

Minimum lease terms, pet limits, and short-term rental bans vary widely and can change by member vote. If your plan depends on renting the unit, confirm the current rules and how easily they can be amended.

What the Dues Actually Buy

Two buildings with identical dues can include very different things. Comparing associations means comparing what is covered, not just the monthly figure on the listing.