ParkHoppers
DIS Veteran
- Joined
- Jul 21, 2012
In 2025 i believe any unit over 3 stories has to hold full reserves for rebuilding cost. Will this affect DVC dues or cost of ownership? Just curious what people think on this.
Past Co-op Board Member /Treasurer here. We haven't had that problem so far. We get past the 'I won't be here' crowd (we are a senior co-op) by emphasizing resale value. Most of those folks will eventually either have to move to an Assisted Living Facility or want to leave $$ to their heirs. Inflation and low interest rates have made it a challenge, though.As someone who is a HOA president - I wish we has laws that demanded full reserves. It is nearly impossible to get annual budgets passed in recent years that appropriately account for the new reality in the cost of repairs.
We need laws that don't allow the " I am not going to be alive in 20 years so I will not pay for reserves" crowds from voting down proper budgets.