May 2019
Condo communities should plan and measure goals over a span of decades.
Short-term planning is difficult and unreliable. Globally, few predicted major events such as Donald Trump and Brexit. Likewise, condo communities are unlikely to predict short-term events and outcomes.
While people cannot predict the future, condo living requires that condo communities plan for the future. Effective planning requires a longer period of time during which unanticipated events tend to balance out. Reserve fund planning, which requires a minimum 30 year time horizon, is based on this principal.
