Cohousing-L Mailing List: Long Term R&R fund for windows

[Randy Sailer (randy.sailer]

At Rocky Hill we are working on budgeting for our reserve for  
replacement for our common elements and those elements on homes that  
the association is responsible for (ie painting, roofs, etc). (We have  
a condo model).

Our by-laws aren't particularly clear about a few things. Far and away  
the biggest and most important (expensive) are our windows. We need to  
decide whether we should build our reserve to pay for window  
replacements or leave them to the responsibility of the homeowner.

Advantages of the community collecting:

Builds reserve and makes it easy to replace the windows when necessary.
Ensures windows are replaced when bad (thus preventing damage to other  
elements in the event of failure)
Forced savings for association members that makes sure the windows get  
replaced.
Community standard for quality of new windows easier to enforce.


Advantages of individual owners paying for replacement at time of need:

Lower on-going condo fee.
Individual unit owners responsible for maintenance (ownership of  
maintenance).


At some level, the community can decide on standards via our regular  
processes and enforce them. Also, the community has the ability to  
make or force repairs on a unit if something is wrong....

One thought we had was splitting the difference (community builds up  
reserve for half, homeowner pays half).

We are wondering what other condo based communities do? Are unit  
windows included or excluded...

Any thoughts? Advice?

Thanks,

Randy Sailer
Rocky Hill Cohousing