Significant Assets
Any assets where:

1. The current total cost of major maintenance, repair, and replacement of the reserve components is fifty percent or more of the gross annual budget of the owner group, excluding reserve account funds. [ Washington Statute]

For example:
  • A $100,000 roof on a building is a significant asset  because it exceeds 50% of the owners' annual budget of $125,000.  In this case, the roof represents
Fig.  Boilers are typically classed as a significant asset.

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Compare with: