04-26-2021, 01:48 PM
(04-26-2021, 07:52 AM)mastermind Wrote:(04-23-2021, 06:20 PM)danbrotherston Wrote: I mean, I don't know what the history on those buildings are, but hasn't it always been the case that those replacements were known and planned for? Certainly costs have increased beyond the planned increases, but they shouldn't be totally out of line.
I think they're probably way out of line because condo boards are not necessarily run by people who have any experiencing managing/maintaining a building. There are a lot of condos out there run by people who's careers and expertise's are in a completely different field.
It's probably easy to see a few hundred grand sitting in an account and think there's lots, especially when the building is new / newer. And if you're not in touch with what construction costs, or if you've never had something like your windows quoted, or are still thinking your roof replacement might cost 'the same as last time', you're in for a big surprise. Suddenly a few hundred grand is a drop in the bucket.
This is why there are studies. I don't understand how a condo could operate without doing engineering studies.