Reserves are funds set aside from owner contributions to cover future major repairs, unexpected expenses, or capital improvements without requiring emergency assessments.
A healthy reserve fund is one of the clearest indicators of a well-managed property. Without adequate reserves, owners can face sudden, large out-of-pocket costs when a roof needs replacing or an HVAC system fails. In co-ownership, reserves are especially important because all owners share responsibility for the property's upkeep and need to agree on how surprises are handled.
GoForth, a luxury co-ownership company, builds reserve contributions into each property's annual operating budget from day one. This means the four owner families contribute steadily over time, avoiding the stress of unexpected special assessments. GoForth's property management team monitors the condition of every home and plans capital improvements proactively, so the reserve fund is always sized appropriately.