It's important for the condo to build up a substantial amount of cash in case there is a necessary high capital outlay needed. Sit on a condo board for a while

It's important for the condo to build up a substantial amount of cash in case there is a necessary high capital outlay needed. Sit on a condo board for a while and look at all of the expenses, and then also imagine saving up enough because, at a minimum, you will need a new roof in 20 years, etc... Also, deferred maintenance will destroy a condo, and the ability for any owners to sell. If the board has to recover from previous years of deferred maintenance while also building a fund for the future, people will simply have to face the reality and pay until the problem is fixed.