Re: Questions about Reserve Amounts
From: Sharon Villines (sharonsharonvillines.com)
Date: Sun, 8 Jul 2018 17:44:07 -0700 (PDT)
On Jul 8, 2018, at 6:41 PM, Ann Zabaldo <zabaldo [at] earthlink.net> wrote:

> Allocating expenses on a formula of half the cost based on square footage and 
> an equal share of the other half does, in fact, mean that the large units in 
> our community pay proportionately less than smaller units. 

I wasn’t justifying it — just explaining the logic that I’ve been told was 
used. Added to that was that the large units sold last and people were afraid 
if the fees were too high, they wouldn’t sell.

> Here’s an example:  there is a 3 BR 2 BA  2-story unit with a full basement, 
> back yard, front porch and 2 decks/balconies.  I have a 2BR 1BA flat no deck 
> or balcony and because I’m on the 3rd floor no back yard. (Fine w/ me — no 
> weeding …)  The owner of the 3BR unit pays just $156 per month more than I do 
> although the owner has almost twice the home I have.  So I’m actually 
> subsidizing that unit.  And the 3BR owner pays just $193 more than the 
> smallest unit even though it is almost 3x’s the size of the smallest unit.

I agree with Ann on this. It makes little sense. In Florida it is illegal to 
use this formula. It has to be equal or by square footage.

But the message that brought this up was from Dick Margulis at Rocky Corner 
where the units range from 800 sq. ft. and 1,200 sq. ft.  That’s a much smaller 
difference than ours.

I was thinking about downsizing to a one bedroom with a den from a 2 bedroom 
but there was no financial advantage. The one bedrooms are in so much demand 
that the price difference is very small and the condo fees not much less. It’s 
a 200SF difference in size

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




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