What is a Replacement Reserve Fund?

A fund not used unless for the purposes of replacement of a common property in a condominium, cooperative project or PUD. These funds are typically for projects that are known to have a shorter lifespan and will need repairs/maintenance/replacement in the not so distant future, such as carpeting or furniture.

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Tagged: Condo, Definition

About the Author: Craig MacDonald, CEO - RealAgents.com

Craig prides himself in living a life of integrity and connecting buyers and sellers to other like minded REALTORS®. He has over 15 years of experience in property assessment, sales (actively works as a REALTOR® with Mac Homes Inc.), business development, process improvement, marketing and home flipping. He holds a Bachelor’s Degree in Biblical Studies & Psychology, and has certificates in Leadership, Residential Valuation and Lean Six Sigma. Craig is a real estate salesperson with Mac Homes Inc. and is actively trading in real estate. More posts by Craig MacDonald, CEO - RealAgents.com

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