Cohousing-L Mailing List: Replacement reserves

[Harriet Lewis (hlewis]

Thanks to the people who have responded to my initial request for 
information about replacement reserves.  Our cooperative, Santa Rosa 
Creek Commons, has money in replacement reserves earmarked for 
replacement of individual apartment appliances, carpet & vinyl 
replacement, interior painting, etc.  In addition, of course, we have 
money there for major expenditures related to aging buildings such as 
asphalt repair and new roofs (20-30 years) . Does anyone else include 
items for interior units in replacement reserves?  At this cooperative, 
when a member leaves, the apartment ownership (share) reverts back to 
the co-op so maybe that is why we feel the need to have money available 
to replace aging appliances and floor coverings.  We got into this 
study of replacement reserves when we encountered resistance to an 
increase in carrying charges to cover needed exterior painting.  Some 
members felt that was an expense that should have been included in 
replacement reserves.   Harriet Lewis, Santa Rosa Creek commons.