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.
-------------------------------------------
We have a number of new members since I announced the list on the main Cohousing list a week or so ago.
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 |
