tag:blogger.com,1999:blog-6739442929159985935.post707923284672080145..comments2023-07-11T04:30:30.172-07:00Comments on Condo Issues.com: When are Community Association Reserves like Public Employee Pensions?Tyler Berdinghttp://www.blogger.com/profile/03447615900980759254noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6739442929159985935.post-63511511175733627142014-08-27T18:58:08.343-07:002014-08-27T18:58:08.343-07:00This is interesting, I owns a condo in fort global...This is interesting, I owns a <a href="http://www.fortglobalcondo.com/" rel="nofollow">condo in fort global</a> and I don't any problems or issues with the developer and unit. Marianhttps://www.blogger.com/profile/15649357674671614859noreply@blogger.comtag:blogger.com,1999:blog-6739442929159985935.post-45674925494801164612014-08-11T03:17:22.679-07:002014-08-11T03:17:22.679-07:00I never had any issues after buying a unit at d...I never had any issues after buying a unit at <a href="http://www.linc2properties.com/d-leedon/" rel="nofollow">d'leedon condo</a>. Public retirement systems are hiding the "true" cost of public pensions from taxpayers. That's all I know!Anonymoushttps://www.blogger.com/profile/12462861638708618081noreply@blogger.comtag:blogger.com,1999:blog-6739442929159985935.post-2018945900952302542014-02-14T10:52:02.980-08:002014-02-14T10:52:02.980-08:00Phil, thanks for you comment. You are correct--the...Phil, thanks for you comment. You are correct--there are actually two reasons why there is a growing shortfall in reserve accounts: (1) assessments are not high enough to adequately fund the true cost of the repairs that have been forecast, but also (2) the typical reserve study in California, at least, follows the provisions of the Civil Code which requires only an inspection of the "visible and accessible" areas of the building. We know from years of representing older associations, that for an aging building "visible and accessible" just doesn't cut it when it comes to understanding which building components will require rehabilitation and should be included in the reserve forecasts.Tyler Berdinghttps://www.blogger.com/profile/03447615900980759254noreply@blogger.comtag:blogger.com,1999:blog-6739442929159985935.post-53539396780453933082014-02-12T16:15:28.847-08:002014-02-12T16:15:28.847-08:00The Crisis re: Reserves is more than just an under...The Crisis re: Reserves is more than just an underfunding issue. Actual Reserve Studies rarely are anything more than guesstimates, and overly conservative at that, of what actual costs to repair or replace will be. Further the Studies make the unreasonable assumption that all expense for, say reroofing, will be done at one time rather than over two or more years. This tends to place an unreasonable burden on the assessment process for that component. This also tends to put pressure on Boards to select cheaper repairs and actually gives HOA owners less than their best value for their money. The Reserve Study process should be dramatically analyzed by all Board members before we stick homeowners with additional assessment increases for things that actual costs and better managed repairs can avoid. Phil Connornoreply@blogger.com