|Cohousing Reserves||<– Date –> <– Thread –>|
|From: Thomas Lofft (tloffthotmail.com)|
|Date: Sat, 31 Dec 2011 09:51:12 -0800 (PST)|
Chjristine Johnson wrote: Association Reserves publishes a free reserve software at www.quickreserves.com See a two minutes intro at http://www.youtube.com/watch?v=EcN9RVJUz8Y Why would Association Reserves make this SW available? To be of service to small associations which simply cannot meet the expense of contracting for a study and secondly, Association Reserves gains the confidence of the SW users, many of whom will come to see the value of paying for the better valuations on components than any one person could estimate absent hours and hours of research and access to the expertise of paid or generous contractors. Christine Johnson Stone Curves Cohousing Tucson, AZ ____________________________________________________________ This is a wonderful reference. Thanks a lot. I think every community should give it a look. No question, budgeting for reserves for maintenance, repairs, replacements, etc., is very important. A strong reserve funding is also an important marketing tool. Every owner should be aware of the reserve status and use it as marketing support when they sell their unit. It means that a new purchaser will not be levied for assessments for repairs that are already planned for funding through reserves. This is much different than a weak association with many owners pulling out rents without making repairs or replacements. Hopefully, there may be a standard in planning reserve requirement requirements in a cohousing association that would be different from other condo or TH associations. This all depends upon the amount of personal care that is given to the daily use and cleaning of the facilities. A 'reserve specialist' who uses a traditional standard of deterioration accorded to a middle school commons will have a relatively high replacement requirement. If the residents tread lightly and clean carefully and diligently, facilities will last a lot longer with less refurbishing. Perhaps the community should discuss the level of care to which they are willing to commit and realize the alternative costs required for more frequent replacements. Of course, there are also differing personal standards. The community may actually have persons who plan to live out their lives in this residence and expect that their end of days may come before any replacement schedule for dishwashers or rooftops. They may actually expect that they should not have to upkeep a residence that will simply pass on to their heirs rather than be sold by them. Accordingly, they may prefer to minimize reserves to keep more cash available for personal disposable income. Then the community has to decide what decision will be effected in the best interest of the greater community. Best wishes for greater community in every year, Tom Lofft Liberty Village, MD
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