How does a condominium association understand future costs to operate a high rise building?

Answer 1

That is a very good question! Often they don't but usually they have contracted with the same property management company who have advised them on the long term costs associated with a high rise building such that they keep their capital reserves at a certain level. If you are a member of the condo association this would be a good question to pose at your next meeting! If you don't get a good answer you might want to think about selling.

Answer 2

It estimated like a lot of things. And they keep monies in reserve to pay for future repairs and maintenance.