SusanO3 (California)
Posts: 168
Posts: 168
Posted:
95 townhomes, northern CA. Reserve study says underlay need to be changed in 2033, houses built in 1989 so we are stretching it out to the absolute maximum! We budget $30,000 per year for leak repairs. Anyone had experience of convincing owners to pull the date forward, with a Special Assessment and some financing options. If we wait until 2033 and increase the reserve contributions by 10% annually until 2033, then we will have little to a small assessment.
The majority of the Board want to communicate/educate/hold an owner vote in 2027 to decide once and for all.
Any thoughts or feedback?