Reserves

[Lee G.]

What is your rule on reserve accounts? How much cash do you keep on hand to CYA? My accountant is suggesting 3 months worth of mortgage payments... I'm saying less like 1.5 months. This is outside a CapEx account. My insurance will cover loss of rents if the building is not habitable so I'm trying to think of situations outside my failure to rent the place where the building would be empty for 3 months...