Cohousing-L Mailing List: Re: Re: [C-L]_ replacement reserves

[Howard Landman (howard]

I wrote:
>> River Rock did the same.  Forcing people to pay reserves for replacing
>> their unit completely is equivalent to making them pay for their unit
>> twice over.  Not many people can afford to buy two equal-price houses
>> and only live in one of them.

and Diane reasonably asked:
> Howard, why are you putting costs of replacing individual unit items 
> into the replacement reserves?

I misspoke a little.  Our actual reserves only cover "walls out", e.g.
things like roofs, siding, and paint.  The unit owners own, and are
responsible for, everything internal to the unit.  But we did, once,
consider whether it would be reasonable to reserve for complete unit
replacement in 100 years.

        Howard A. Landman