One of the main areas of neglect is often the physical state of the building. There is a fund - called a sinking fund - to which all members contribute for the maintenance and upkeep of the building. While low fees of a sinking fund may attract you, it can be a warning sign that not enough upkeep is being done on the building. This means that you could be hit with extra, unexpected fees to cover major repairs.
Before settling, examine the financial report and minutes of all meetings to get a good idea of what is going on in the building. Be willing to get involved in meetings and even be on the executive committee if necessary. If you find a problem and the building is still new, take quick action against the builders to have it brought up to scratch, because this can save costly repairs later on.
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