Cohousing-L Mailing List: Re: What is your community's reserve funding level?

[Sharon Villines (sharon]

> On Oct 4, 2024, at 2:19 AM, Sylvie K <sylviek [at] riseup.net> wrote:
> 
> Here at Jackson Place Cohousing in Seattle, Washington we are working on our 
> 2025 budget.  In addition to budgeting for utilities, here in Washington 
> State, we are required to have a reserve fund to save for upcoming and future 
> maintenance and replacement of the elements owned by our condo. But the law 
> does not require a specific amount or percentage of funding of the reserve 
> savings.

There are many messages in the archives on this topic. You might check there 
first, and then ask if you have a specific question. You might also consult the 
California requirements for condos. I haven’t looked at them in a number of 
years but they used to be very good.

Reserves should probably be a significant portion of your budget.

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