What questions should I ask a condo board or manager before buying?
Ask, in writing: about approved or discussed special assessments, the milestone inspection status, reserve funding versus the study, insurance renewals, litigation, delinquencies, association loans, planned major projects, rental and pet rules in practice, and management stability. Written answers protect you; vague answers inform you.
The ten questions
- 1. Are any special assessments approved, proposed, or under discussion by the board?
- 2. What is the building's milestone inspection status, and may I see the most recent report?
- 3. What percent funded are the reserves relative to the current SIRS?
- 4. What happened at the last insurance renewal, and is the carrier returning next year?
- 5. Is the association involved in any litigation, as plaintiff or defendant?
- 6. What percentage of units are 90 or more days delinquent on fees?
- 7. Does the association carry any loans or lines of credit, and for what?
- 8. What major projects are planned or under bid for the next three years?
- 9. How are the rental, pet, and renovation rules actually enforced, and are changes being discussed?
- 10. How long has the current management company served, and why did the last one leave?
Why writing matters
A manager who answers in writing is accountable for the answer. Most are honest; writing keeps everyone precise. Where answers conflict with the documents, believe the documents and ask again.
Reading between the lines
You are not just collecting facts, you are sampling the association's culture. Prompt, organized, complete responses usually mean the building is run the same way. Weeks of silence for basic financial questions is itself an answer.
Quick facts
- Always ask in writing, ideally through your agent
- Cross-check every answer against minutes and financials
- The speed and quality of the response is data too
This article is general information for Naples, Florida buyers, not legal, tax, or insurance advice. Laws, rates, and markets change. Please verify current details with the appropriate professional, and talk to us before relying on anything here in a transaction.
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