Cohousing-L Mailing List: Re: Reserve Studies

[Eris Weaver (eris]

In 1988 I bought a 15-year-old condo in a complex half a mile from where I
now live (California); I lived there until 2003. The reserves were
underfunded, basically because residents never showed up at HOA meetings
except to veto any increase in dues. 

Maintenance was deferred on landscaping, the pool, parking lots, etc. until
tree roots f*ed up the plumbing and broke up the parking lot and the pool
was close to unusable. We then got hit with BIG special assessments in order
to fix things that could have been fixed for less if they'd been done in a
timely fashion.

I am a BIG fan of well-funded reserves.

------------------------------
Eris Weaver, Facilitator & Group Process Consultant
Author, "Let's Talk About Money: A Conversation Guide for Intentional
Communities"
eris [at] erisweaver.info
707-338-8589
http://www.erisweaver.info
http://erisweaver.blogspot.com


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