Quote:
Originally Posted by niwell
Gonna disagree somewhat with this part. Reinforced concrete is gonna last a longggg time. It's the rest of the building that can become suspect. A well-managed reserve fund can ameliorate this a lot of course. Even with changes to the Condominium Board this can be suspect in a building that's not run well.
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But that's the problem though. Most of the unit owners in a lot of the newer buildings are amateur landlords who don't give a damn about long term maintenance. They are cash flow negative or barely breaking even and couldn't care less if the building reserve fund is properly funded. They are mostly hoping to flip. All these buildings designed and marketed to specuvestors are very much a problem and future liability.
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