Re: Borrowing by condo association>
From: Sharon Villines (
Date: Thu, 1 Apr 2021 07:29:46 -0700 (PDT)
> On Apr 1, 2021, at 12:33 AM, Edwin Simmers <edwinsimmers [at]> 
> wrote:
> Has anyone had the experience where their condo association borrowed money 
> from a bank or financial institution for some expenditure, with terms 
> allowing repayment over future years?
> What sort of collateral did the bank require? Did the bank require an ongoing 
> special assessment of unit owners to make sure the future payment were made?

When interest rates for savings were higher than interest rates for loans, one 
of our members investigated this — I’m not sure how extensively.

Condo fees are a great asset, which I didn’t realize. Most cohousing 
communities have few delinquencies and then not serious. Compared to many 
condos it is probably negligible. Reserves. A well-run community is an asset a 
bank respects. Plus if you are borrowing money I assume that you are doing 
capital improvements which increases the value of the real estate.

Sharon Villines
affordablecohousing [at]
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