Re: Questions about Reserves Amounts
From: Sharon Villines (sharonsharonvillines.com)
Date: Sun, 8 Jul 2018 18:08:07 -0700 (PDT)
> On Jul 8, 2018, at 9:01 PM, Sharon Villines via Cohousing-L <cohousing-l [at] 
> cohousing.org> wrote:
> 
> Including the reserves in the total budget means those figures form the basis 
> of house prices and can be included in mortgages.

And the reserve study also tells you what the condo fees need to be to meet the 
requirements. If 50% of the monthly fee needs to go toward replacement and 
repair, that is double the amounts projected for utilities, etc.

We started with condo fees that were 1/3 what they should have been. It was 
hard for many people when we began increasing fees to get up to the required 
amount.

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




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