Property Management
Vermont's 'reserve fund' requirement for condominium associations ensures:
AThe developer profits from the association
BFunds are set aside for major repairs and capital replacements, preventing special assessments for predictable expenses✓ Correct
CMonthly fees are minimized
DReserve funds are invested in real estate
Explanation
Adequate reserve funds allow condominium associations to budget for and fund major repairs and replacements (roofs, elevators, paving) over time, reducing the need for large special assessments when capital projects arise.
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