Posted by: phillipsre | November 12, 2013

Bad Debt Allowance – What do Condo Associations Need to Know?

buildingDue to the current economy and the fact that some unit owners owe more on their property than it is worth, there is the potential for write-off of receivable balances – either whole or in part. This is important information for Board Members and Condo Associations to be aware of. The folks at  Cagianut & Company have put together a succinct outline of what Board Members and Association Managers need to know about Bad Debt Allowance and Write-offs, this article has the detailed information on what they need to know. The real estate is in a very different state than it was years ago and now before investors or buyers look to purchase a condo unit, there are a lot of factors that should be considered. This article focuses on the issues to be aware of before purchasing a condo and discusses some ways to protect yourself as a buyer. In the end, the bottom line is, do your research and use your resources, specifically your Community Association Manager. These professionals have the tools, experience and resources to make sure your Association is moving in the right direction.

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