|Re: Questions about Reserves Amounts||<– Date –> <– Thread –>|
|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 ---- Sharon Villines Takoma Village Cohousing, Washington DC http://www.takomavillage.org
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