Cohousing-L Mailing List: Re: Reserve Studies

[Sharon Villines (sharon]

On Aug 8, 2006, at 8:23 AM, Sharon Villines wrote:
> > I certainly like the goal of keeping the real estate in a roughly
> > constant good condition, but I'm wondering if there are other ways to
> > implement that goal that don't involve saving a pile of near-cash.
>
> Good maintenance. Using materials that last longer, like tin roofs.
> That lowers reserve requirements but cash of some kind would still be
> required since our economy is based on it. Even if your community is
> off the grid, you would still need cash.

I forgot to mention that reserve funds also affect resales. A good 
lawyer will inspect all your condo docs and financial papers and expect 
to see whatever the lawyer thinks are good reserve funds.

In Manhattan, the real estate people seem to memorize things like 
reserve fund figures and advise against good and bad buildings, for 
example.

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