|Common House Costs||<– Date –> <– Thread –>|
|From: Joani Blank (jeblankic.org)|
|Date: Tue, 7 Jul 1998 19:41:56 -0500|
Lynn asks: >What are the expenses that are specific to your common house? Such things >as maintenance, additional insurance, fuel and power bills, phone >service, office and kitchen equipment maintenance, cleaning, trash >removal. (Not meal service, as I assume that cost is split among the >users.) Well, most coho communities jointly purchase some staple foods as well as condiments, etc. The number of items that groups consider staples varies quite a bit. A few do bulk food purchasing both for common meals and also for purchase by individual households from the bulk supply. In addition to the items that you mentioned above and food staples, you will want to budget for grounds care and/or landscaping (even if you do it all yourself, you ongoingly have to buy plant stock and other supplies) bookkeeping/accounting (if you don't have the skill internally), cleaning and maintenance supplies. Some states (California is one) require that if you are a condominium association--I don't think you are at Rosewind--you must have a long-term reserve. It is a repository for funds needed for large capital improvements or like replacing a roof. In addition to requiring that we have a long term reserve, California also require that every three or four years we have a reserve study to determine if our reserve is adequate. I believe the one we had last year cost $350. I'm sure I've forgotten something, but others will undoubtedly respond to your query as well. Joani Blank Doyle St./ Old Oakland
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