Certain major systems in a home will need replacement over time. Since replacing these items is both expensive and critical to the health of the home, all Community Home Trust homeowners participate in our Stewardship Program, which helps cover the cost of some predictable major replacements and repairs.

Since every home is different, Community Home Trust staff can tell you exactly which systems in your home are covered by the Stewardship Program. Most often, the systems covered are

  • roof and gutter system
  • water heater
  • central heating, ventilation, and air-conditioning system (HVAC)
  • floor coverings
  • exterior paint and siding
  • termite treatment (including annual termite warranty inspections)

If you live in a development with a homeowner’s association (HOA), the HOA may be responsible for maintenance of some of the systems listed above (the roof, exterior paint, and termite treatment, for example). The Stewardship Program does not cover systems that are your HOA’s responsibility. And, since some homes have unique needs or systems, it’s possible other systems in your home may be covered.

If you have questions about what the Stewardship Program covers in your home, please contact Property Manager Ian Morse at imorse@communityhometrust.org or 919.967.1545 x306.

Most of the repairs and maintenance required for your home during the time you live in it will not be covered by the Stewardship Program. Examples of items that are not covered:

  • repairs to plumbing
  • repairs to electrical systems
  • repairs to interior walls
  • appliances

This is not an exhaustive list, but these are some examples of repairs you should not expect the Stewardship Program to cover.

For roofing, HVAC, water heater, paint and siding, and termite treatment:

  1. Contact a contractor to obtain a diagnosis and estimate. You can access a list of approved contractors here, but you do not necessarily need to use someone from that list. Be prepared to pay for the initial service call, but do not pay anything else until you have confirmation from us about what will be covered.
  2. Contact Community Home Trust. Call or email Property Manager Ian Morse (imorse@communityhometrust.org or 919.967.1545 x306  to discuss the work needed and the estimate(s) you have acquired.
  3. Complete and submit the application here. If further information is needed, you will be contacted by a member of Community Home Trust’s staff.
  4. Wait to hear back from us about what the Stewardship Program will cover. We may need to ask for more details or another estimate, depending on the project, so do not begin the work until you hear from us.
  5. Schedule and oversee the replacement or repair. The homeowner or another responsible adult must be home to oversee the work. Homeowners may also need to be present for Town mechanical inspections of new HVAC equipment.

For flooring:

  1. Contact a contractor to obtain an estimate. You can access a list of approved contracts here, but you do not necessarily need to use someone from that list. Be prepared to pay for the initial service call, but do not pay anything else until you have confirmation from us about what will be covered.
  2. Contact Community Home Trust. Call or email Property Manager Ian Morse (imorse@communityhometrust.org or 919.967.1545 x306 to find out what will be covered. There are specific guidelines for the amount that is covered based on the age of your existing flooring, so this amount varies by home.
  3. Complete and submit the application here. If further information is needed, you will be contacted by a member of Community Home Trust’s staff.
  4. Schedule and oversee the work. The homeowner or another responsible adult must be home to oversee the work.

Repairs for covered systems (HVAC, roof, and exterior siding) are subject to a $500 owner payment, plus the use of insurance proceeds if the repair is covered by owner’s insurance or the HOA’s insurance. Stewardship funds can then be accessed for any remaining outstanding balance. If the homeowner is on an annual maintenance plan for the HVAC system, and can prove the system has been serviced within the past 6 months, the $500 minimum requirement is waived.

Stewardship funds cannot be used to repair or replace systems that are under warranty. CHT staff can help you with warranty service if needed.

  • The estimated life of flooring is 10 years. If you want to replace your flooring with like-kind flooring you will be reimbursed up to a predetermined rate per square foot for minimum standard carpet on a prorated basis. For example, if you choose to replace your 4-year-old flooring you will receive up to 4/10 of the predetermined replacement value. If your flooring lasts 12 years instead of 10, you will receive up to 12/10 of the replacement value. Replacement value is calculated using a predetermined rate per square foot.
  • If you decide you want to upgrade your carpet to laminate, hardwood, or luxury vinyl plank flooring before the 10-year life expectancy, you will be reimbursed up to the predetermined rate per square foot at the full 10-year value. Only one premature upgrade is allowed. The predetermined rate per square foot is based on minimum standard carpet cost, not the cost of the upgraded material.
  • If you choose to replace your flooring and the cost exceeds the allowable reimbursement amount, you are responsible for paying the difference. If you pick out flooring that is cheaper than the maximum reimbursement amount, you will only be reimbursed up to the actual cost of the new flooring.
  • If you are putting carpet in your home, carpet must meet a minimum 10-year warranty standard. There are no additional requirements; however, if the cost exceeds the maximum reimbursement amount, you are responsible for paying the difference.
  • If you have hardwood floors, you can use stewardship funds to refinish the floor as needed. The amount available is calculated at the same predetermined rate per square foot as replacement, and is prorated based on the time lapse between each time the flooring is refinished.

Complete details about coverage for flooring are available here.

You can find a list of CHT-approved contractors here. You are not required to use one of these contractors; however, if you choose to use another contractor or do the work yourself, some further stipulations apply.

  • If you employ an unapproved contractor, you still must use a licensed and insured professional. In this case, CHT disburses stewardship funds to you only after (a) the work passes CHT’s inspections, (b) you provide all documentation reasonably requested by CHT, and (c) you provide evidence that you have paid the contractor in full.
  • CHT discourages homeowners from performing stewardship work themselves. Since the Stewardship Program is designed to cover full replacement costs, including both material and professional labor, CHT may reject do-it-yourself proposals without further explanation.

The Stewardship Program is primarily intended to be used for systems that fail completely. That being the case, most often the preference will be to replace the failed system. In some cases, however, repair may be an option. The determination of what is covered will be based on the estimate provided by the contractor and an assessment by CHT staff.

In the case of a replacement of a failed system, there is no out of pocket cost for the homeowner. In the case of a repair of an existing system, the homeowner is responsible for the first $500 of the total cost.

As soon as you buy your home, you begin paying a monthly stewardship fee and are fully eligible to use the program.

We set stewardship fees so that they cover the estimated, inflation-adjusted cost of periodically replacing your home’s major systems over the next 30 years. Our cost and life-expectancy estimates are based on systems typically encountered in homes similar to yours. We do not adjust stewardship fees to match the exact makes, models, or life expectancies of the systems installed in your home. We may adjust stewardship fees once every year to cover increases in material and labor costs, but your fee cannot increase more than 5% from one year to the next.

In 2019, all Stewardship accounts were pooled into one account. Now any approved expenses can be paid for without limiting funding for future additional expenses.

Contact CHT Property Manager Ian Morse at imorse@communityhometrust.org or 919.967.1545 x306.