Kaman & Cusimano Partner Scott Weiss was quoted in a recently published article in the Wall Street Journal which states that Condo owners may soon see higher association dues as Fannie Mae and Freddie Mac implement stricter reserve funding requirements. The goal is to ensure communities are financially prepared for major repairs and maintenance, helping reduce the risk of special assessments, deferred maintenance, and financing obstacles for buyers. By understanding these changes and maintaining appropriate reserves, community associations can continue to serve their members while maintaining compliance with the new reserve requirements beginning early next year.  Read the full article by clicking this link Why Your Condo Association Might Be Raising Your Dues Soon – WSJ.  

If your association is not currently a Kaman and Cusimano client and is interested in learning more about our services and how we can help, please click the following link: Request for Proposal and type “RESERVE FUNDING REQUIREMENTS” in the message field.