Re: CoHo Condo Fees
From: Mary Ann Clark (drmaryann49mac.com)
Date: Mon, 16 Mar 2015 08:54:12 -0700 (PDT)
We are in the throes of updating our Reserve Study and I would love to have a copy of 
your presentation. If you can send it to me electronically rather than printing and 
mailing it that's be perfect!

Mary Ann
Manzanita Village where the flowers are blooming, the birds are singing, and 
the gardeners are digging

--
The library is a large building filled with books and journals. It functions 
sort of like Google, but deeper.

Mary Ann Clark                                                  drmaryann49 
[at] mac.com
http://homepage.mac.com/drmaryann/index.html

On Mar 13, 2015, at 06:30 AM, Sharon Villines <sharon [at] sharonvillines.com> 
wrote:



On Mar 13, 2015, at 7:48 AM, David Clements and Evan Richardson via Cohousing-L 
<cohousing-l [at] cohousing.org> wrote:

Westwood Cohousing is anticipating a budget of $44,000 for operating, $34,000 
for reserves. For 24 units with about 32,000 sf living space, this works out to 
an average of $270 per month per unit, or $0.20 per sf per month.

I'm intrigued with the SF calculations. As Chris says it also depends on what 
is included but at least it is a place to start.

We needed a professional reserve study to get a grasp on the true costs. I would recommend a reserve study 
sooner rather than later. They will tell you, as a made up example, that reroofing will cost $50,000 and will 
have to be done every 20 years, so the "cost" or "'liability" to the association per year 
of the roofs (and the amount roughly that should be accumulated in reserves for the roofs) is $2500 per year. 
The ideal reserve contribution is the sum of the yearly costs (or "liabilities" to the association) 
of all the individual components or items that the association is responsible for maintaining, repairing, and 
replacing.

The fist study should be done before you move in and a reserve account set up 
as part of the project costs. Starting from zero is like a car with no gas. You 
have the car payments and can't use the car. Everyone will still be stressed 
out from moving and mortgages and new household routines when you discover the 
hot water supply in the CH is inadequate and neither the laundry nor the guest 
rooms have hot water. And you signed off on the new evolutionary design that 
the builder never wanted to install in the first place. You asked for it, you 
pay for it.

You have to be prepared for your own mistakes as well as those of nature. 
Though they are probably the same.

Doing a presentation at the annual conference in May on reserve studies and 
examples will be available for the cost of printing.

Sharon
----
Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org




_________________________________________________________________
Cohousing-L mailing list -- Unsubscribe, archives and other info at:
http://www.cohousing.org/cohousing-L/



Results generated by Tiger Technologies Web hosting using MHonArc.