Cold hard facts:
- In 2012, association boards supervised the collection of close to $40 billion in annual assessments and maintained investment accounts of more than $35 billion for the long-term maintenance and replacement of commonly held property.
Condominiums matter and pump billions into the economy every year in sales, maintenance and fees.
I have no idea how much money is spent on condominium insurance. But let’s make a guess. I guess that $1000 is spent for insurance on average by every unit owner. This is based on their own personal insurance, and the proportionate share of the master policy.
With 1.25 million units, that is over 1 Billion dollars.
Just a guess, but that is a bunch of zero’s.
Condo unit owners matter.