|Amount for Reserves||<– Date –> <– Thread –>|
|From: Terri Hupfer (terriphch.org)|
|Date: Thu, 29 Dec 2011 09:32:23 -0800 (PST)|
Amount needed in reserves is dependent on your own community's tolerance for risk. Some HOAs have as little as 10-15% in reserves, our community strives for 85% funded of the 100% that would be expected based on our Reserve Study. Some in our community would like us to be at 100%, but it does add a hefty amount on to our monthly dues. That said, in our 10 years as a community we have never had to have a special assessment to pay for any repairs, and we have had several water/plumbing problems that were quite expensive. Terri Hupfer Pleasant Hill Cohousing Bay Area, CA
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