Amount for Reserves
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
  • (no other messages in thread)

Results generated by Tiger Technologies Web hosting using MHonArc.