service charge sinking fund

Service charge monies (including reserve and sinking funds) must be held in one or more discrete (or virtual) bank accounts; Interest earned on service charge accounts - or where separate accounts per property are not operated, a proper and reasonable amount of interest calculated on normal commercial rates - must be credited to the service ... The service charge, also commonly referred to as the maintenance fee, goes into 2 financial pools managed by a condo: a maintenance fund, and a sinking fund. In this article, we'll be guiding you through these terms to help you better understand what you're

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service charge sinking fund

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