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Abstract
This paper is the first to investigate the impact of homeowner association dues and percentage funded for maintenance reserves on condominium and condominium conversion pricing. Homeowner association dues are typically readily available to buyers via the MLS; however, the percentage funded for maintenance reserves is not easily accessible to prospective buyers. This paper constructs a three-step funding policy model. Results indicate that buyers should be mindful of the level of homeowner association dues and to the heretofore unavailable percentage funded for maintenance reserves.