Subject: Re: Assessments
From: Michele Tittle (micheletittle@sbcglobal.net)
Date: Tue Apr 18 2006 - 08:17:44 CDT
Assessments at 933 Van Buren are about 65-75 more then ours and they have a
doorman, heated garage, exercise facility and it includes basic cable.
Again, as someone who is a real estate agent and who just sold their unit,
the number one question/concern of prospective buyers is why are your
assessments so much (when you get so little). Obviously at this point, it
isn't of huge concern for us as we are moving, but as home owners who are
concerned about resale, there is a big perception in this market that we pay
a lot for the area to get so little in return.
As for not going up, I know I rec'd a letter for 2005 with a 2-3% increase.
I can't locate it at the moment due to most of my stuff being packed, but
yes.. my unit (at least) did have a small increase.
My biggest complaint about the assessment/special assessment issue is
planning, not necessarily the dollar amount. This 4 year inspection was a
KNOWN occurrence, why wasn't it planned and budgeted? I would bet most
residents would rather have a small increase monthly to offset these charges
then a surprise amount via a letter from the mngt. I read the meeting
minutes, I don't recall seeing any mention of this in the last meeting
minutes published (12/05), nor did my lawyer, the prospective buyer, etc...
so if going to the meetings was enough to keep us informed, I would expect
this would have been mentioned in the last published meeting minutes. The
1Q 2006 meeting minutes have not been posted in the common area (back
elevator) for some time, I can't speak for everyone but I know that was one
way I kept up on what was happening, but just like with the big assessment 2
years ago, this just seems to be coming out of nowhere. I thought we
learned from that experience that communication of these things is critical
to keep the owners happy, yet everyone I have talked to in passing is
equally as surprised at the letter rec'd announcing the spec. assess.
My second biggest complaint in regards to what I pay for on a monthly basis-
SERVICE. I can't tell you how many emails and phone calls go unanswered by
Loretta. In the process of selling my unit if I didn't initiate multiple
calls to multiple people, nobody responds. Honestly, the most responsive
and helpful person at First Properties is Julio, unfortunately he isn't the
one with most of the answers or empowered to address issues/questions. Take
this for what it is worth as I have made it clear I will no longer be an
owner in about 5 weeks, but writing the check to First Properties would be a
lot less painful every month if at least they made up for lack of amenities
with great customer service. But they don't, which has been brought up
numerous times, by numerous owners.
~Michele #701
----- Original Message -----
From: "Dana Parker" <danaparker411@sbcglobal.net>
To: <vanguard-talk@venus.soci.niu.edu>
Sent: Tuesday, April 18, 2006 7:56 AM
Subject: Assessments
>
> FYI - The assessments at the new lofts on Adams / Morgan are about the
same
> as ours and they have a doorman, roof top garden and workout facilities.
>
> It is also my understanding that over the last year or two, we have been
> paying towards a large debt to the gas company. Apparently, the gas meter
> was reading incorrectly and past owners were getting quite the deal. I
might
> be mistaken, but I'm assuming some of the reserves went towards this??
Does
> anyone know?
>
> Dana Parker
>
>
> > Assessments have NOT gone up for two years. Evidently, they should have
> > because now, instead of spreading the expense which should have been
> > anticipated over time we will be paying it in one lump sum. And while an
> > average of $550 each is not that much, (Yes, I know that not all of the
#550
> > is for the inspection) it's still aggravating to have to pay for
something we
> > thought we were paying for all along. I certainly hope that the
reserves have
> > been more closely studied now and it has been determined that we are
indeed
> > putting enough away. Otherwise, once the next usual expected expenses
occur
> > (roof, next critical inspection, painting, whatever) we will be paying
another
> > "special", which is, by definition, supposed to be assessesed for
UNEXPECTED
> > expenses.
> >
> > Also, compared to buildings with doormen, pools, work-out facilities, we
have
> > a very low assessment. A condo in Skybridge the size of mine has an
assessment
> > of $720/month which is twice mine.
> >
> > Mary
> >
> > Michele Tittle <micheletittle@sbcglobal.net> wrote:
> >
> > Yes... it is already broken and my key (for whatever reason) won't work
in
> > it, although it works fine for the main gate, so it is of now help for
me.
> >
> > As for the spec assess. issue, I agree with Mary for the most part, our
> > assessments went up this year and I have to respectfully disagree w/ you
> > Jim, what 'Low Assessments'? I pay 336.00 a month and I for the life of
me
> > can't understand what I get for that money considering I have already
paid
> > almost 10K into the last special assessment.
> >
> > ~Michele
> > ----- Original Message -----
> > From: "Dom Shurba"
> > To:
> > Sent: Sunday, April 16, 2006 9:40 PM
> > Subject: RE: New pedestrian gate
> >
>
>
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