Re: [Reserve Studies] New Members and Updates

Well, we live in the northwest, so water intrusion is a permanent problem. Meaning, our buildings were architected without overhangs, and are about 17 years old, so water from consistent rain, finds its way under siding, finds underlayment or flashings that weren't installed correctly or have shifted, or something is angle slightly wrong and water and drips in, and rots wood. So we ended up adding money to the reserve study (and we have just one that covers both things, capital and maintenance such as painting), for regular replacement of walls or areas that get water where it isn't supposed to go. (our original study just had money for siding for the lifetime of siding, roofing for the lifetime of roofing). We have one building that is 2 stories, and has decks on the 2nd story, and most all of those decks have had problems with water intruding in them, under them, where they attach . . . .Supposedly building technology for envelopes has improved, so now they know better how to keep water out but . . . .

We have a reserve study that is 80% funded (which our reserve consultant said was ok), and we were on a cycle of redoing the reserve study regularly, I think every 5 years. We are evaluating this year whether we want to go to 100% funded.

Perhaps people can introduce or reintroduce themselves and give us an update on where your reserve studies are?

We have paid good attention to our reserves and if not fully funded are moving toward it as well as can be expected. We had a study completed a year or so after move-in and a more extensive study done 3 years ago. We are now preparing for a third study.

We have both a Capital Reserve Planning and a Reserve Fund Study. Any maintenance work over $500 that is done less often than annually is included in the Reserve Fund Study. It has taken us a few years to figure out how often we should be doing some maintenance work. Cleaning dryer vents, for example, is something we didn't do for 5 years and then found that they are a major cause of home fires. So we are now trying to do them every 2 years as recommended.

The first company we used did not do agood job and made matters worse by putting screens over the vents that collected dust and quickly blocked the vents altogether! The second, and permanent we hope, loves his work. A vent cleaner at heart.

We weren't having our gutters cleaned because we have no trees tall enough to put leaves in the third floor gutters and we can clean the low ones ourselves. But during the last reserve study, the good one, the roof expert said leaves are not the only problem. The roofing surface degenerates over time and the asphalt grit builds up in the gutters. This means that any debris flying into the gutters sticks and eventually will cause blockages.

Another problem is flying CDs. Yes, CDs. Especially ones that they ship out by the millions and kids use for Frisbees. They are the perfect size to clog gutters. They land sideways but the first rain pushes them either horizontally to block the gutter or flat over the hole to the downspout.

So we are still finding out about major maintenance work. And about equipment that doesn't last as long as projected. Two sewage ejectors have needed new pumps in 8 years, not the projected 20. Almost $20,000 of unexpected expenditures out of the Capital Replacement Reserves in one year

Any other stories out there?

Sharon