Re:Cohousing Assessments--What do you pay?
From: Joaniblank (Joaniblankaol.com)
Date: Fri, 21 Aug 1998 16:13:04 -0500
In communities that are structured as condominiums,  we pay condo fees just
like in  a conventional condominium. (Of course, unlike in conventional condo,
the condo board has everyone on it rather than a board of elected
representatitves). In California (and I assume in  other states), there is law
that governs certain aspects of the way condo fees are set and how they are
allocated. For example, the law requires--someone please correct me if I'm
wrong--that we have a significant reserve, and even requires that a reserve
study be done by an outside person every three or five years to be sure that
our reserves are adequate. At Doyle Street we have borrowed from our reserves
a few times, and then put the money back by budgeting in periodic  (monthly?)
payments to replenish the reserve fund. I think we also pay the interest to
the reserve fund on the funds we have borrowed from it. 

As to the determination of the amount paid by each household. At Doyle Street
we base the assessments (solely) on the square footage of the units, and they
range from about $180 to $240 per month. (I'm not at home now so I can't check
the exact range.)  My unit is 1170 sq ft, and I pay $212/month. We have had
three invcreases in the 6 years since we started. The first was when we
decided to purchase earthquake insurance, and the other two were "cost-of-
living" or "cost-of-running-the-place" increases. 

I'm pretty sure that we will be determining the allocations the same way in
Old Oakland. I know that other communities, perhaps even in California, use
other consderations in addition to square footage to determine household
assessments.

Joani Blank
Doyle St. and Old Oakland Cohousing, SF Bay Area

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