Special assessments can be difficult for condominium and HOA communities, particularly when unexpected repairs involve roofs, siding, decks, drainage systems, or other major components. In the Pacific Northwest, rain, moisture, and aging buildings can accelerate deterioration, making timely maintenance especially important. When significant repairs are needed, boards must balance protecting the property with keeping costs [...]
In the Pacific Northwest, condominium associations face unique challenges that directly affect insurance risk. Our region's persistent rainfall, windstorms, seismic activity, and coastal environments accelerate the deterioration of roofing, siding, decks, windows, plumbing, and other common area components. A professionally prepared Reserve Study by Pacific Crest Reserves provides insurance carriers, brokers, and association boards with [...]
At Pacific Crest Reserves, we help condominium and homeowner associations throughout the Pacific Northwest navigate the long-term financial and physical needs of their communities. Reserve studies are a critical planning tool—yet we regularly see well-intentioned boards make decisions based on common misconceptions that create major financial and maintenance hurdles down the road. Here are the [...]
Recently I saw headlines that Florida is seeing new problems with condominiums sinking. Condominium owners in Washington State should be aware that this is not just a Florida problem but the potential is nationwide. There are two reasons for this: first the increasing risks associated with land subsidence and rising water levels due to climate [...]
We frequently get the question of how much does WUCOIA require an association to put into reserves? The requirement of how much should be put into reserves is not explicitly stated in the Washington State Revised Code (RCW) 64.34, which governs condominiums, HOA's and PUDs. However, the following provisions within RCW 64.34 strongly imply this [...]
I have talked to many board members over the years and I get a sense that they don't believe we will have a condominium collapse here in the Pacific Northwest. In our area we do have conditions similar to Florida. We have buildings from the 50's and 60's that were built on the waterfront. The [...]
For the past 6 years we have seen greater price inflation than the past 40 years. More important for associations the cost of major projects such as paint and roofing have grown 10% to 40% outpacing inflation significantly. Previously many associations were limited in what they could increase dues by their CC&Rs. However since 2018 [...]
Thinking about buying a condo in Washington? While a condo can be a great option, monthly dues can be significant concern. Here is a guide a buyer can use to help evaluate the association and the impact that will have if they become an owner. How to Choose a Financially Stable Condo Community Let's focus [...]
Regular Deck Inspections in Condominiums Condominium living offers a unique blend of comfort and convenience, with shared amenities like decks or balconies creating a sense of community. However, these outdoor spaces also come with inherent risks, particularly when it comes to structural integrity and safety. That's why regular deck / balcony inspections by qualified professionals [...]
The Challenges of Raising Assessments to fund association reserves As a board president in Washington State, you've just discovered that your association needs $200,000 to replace the clubhouse roof due to a leak. Your operating budget has no contingency funds, and your reserve fund, which has not had an increase in many years, has a [...]
