Cohousing-L Mailing List: Re: Looking for a Reserves Study Professional - Northern California

[Sharon Villines (sharon]

> On Jun 11, 2017, at 3:34 PM, Matthew Nathanson <nmatt831 [at] gmail.com> 
> wrote:
> 
> I am looking for recommendations on an accountant or other professional to do
> a reserves study for our cohousing community.  

It’s more important to have someone assess the condition of your facilities, 
when they will need major repairs or replacement, and and how much it will 
cost. People in the construction industry know this, not accountants. The 
financial projections are done by software that reserve study specialists use 
to crunch the numbers of projected costs, the construction inflation rate, and 
interest rate on savings to determine how much you need to save to have the 
funds available when you need them. 

The important link is someone who can look at your facilities and has 
experience with repairs and replacement. The numbers will only be helpful if 
they are based on realistic projections of costs.

If you spend less than projected, you can save less in the future. But if your 
costs outpace your savings, most cohousers don’t have the extra funds to make 
up the difference on the spot.

You might contact Reserve Associates and ask for a local specialist with strong 
construction credentials — one who can give you advice, not just take pictures. 
The home office then runs the numbers on their big computers.

https://www.reservestudy.com

Their website also includes a lot of information about good practices and what 
they have found from their analysis of thousands of reserve studies and 
community experiences.

Also check California law for condos and reserve studies. No study “for years” 
may violate state law.

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