Cohousing-L Mailing List: Re: Replacement reserves

[Elizabeth Stevenson (tamgoddess]

For the most part, cohousing is condo, rather than co-op, since it's easier
to get financing for it that way. So, no, we don't collectively pay for
repair or replacing anything on the interior of the units, nor the doors and
windows, as these belong to individual owners.

I wasn't even aware there were co-op cohousings, so that's how rare you are
(or unaware I am)! 

Always learning,

-- 
Liz Stevenson
Southside Park Cohousing
Sacramento, California
lilbert [at] comcast.net

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> From: Harriet Lewis <hlewis [at] sonic.net>
> Reply-To: Developing cohousing - collaborative housing communities
> <cohousing-l [at] cohousing.org>
> Date: Thu, 8 Apr 2004 15:37:05 -0700
> To: cohousing-l [at] cohousing.org
> Cc: flowers2 [at] sonic.net, 'Mary Michaels' <pkmmkm [at] sonic.net>
> Subject: [C-L]_ Replacement reserves
> 
> 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.
> 
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