Welcome Everyone. I'm certain that most of us received a letter in regards to our maintenance fees increasing to approx. $252 effective November 1st 2012. We need to review what has happened here and look at our options. The Board never discussed this with us and no fair warning was given to anyone.
I've been speaking with the head of the board from the Heathwood side of our complex and he shared the following with me which we can consider:
- They originally had an increase after the first year from $150 to $220 and had the same problem with communication from their Board.
- They had a petition signed by more then 50% of owners/residents/occupants and had the Board overthrown.
- They then elected a new Board which fired the property manager before the initial contract up and interview new groups before they hired a new one. The Group that we have was also in the running but was deemed to expensive and didn't have the best reputation. The group that they hired was able to operate at a lower cost and they now only pay $180 per month
- This was all done in a matter of 60 to 90 days.
- If you look at the items on our list for expenses, many of these items should be covered under the builders warranty.
Having an increase this high so fast doesn't benefit any of us now. I don't think it is fair to build a reserve fund that large for problems that may arise after most of us have sold or moved in 5 - 10 years at the least.
For those of you looking to sell within the year. I'm certain that the maintenance fee price will not be something that others will want to pay and could effectively reduce the price at which your home is sold for.
Please let us know your thoughts and lets try to work together to do something.
Thank you for your time.
This Blog is intended to bring the residents, home owners and anyone with a vested interest in the functions associated with the properties of Terracotta Village in Brampton. Remington home occupants will be first priority at this moment until we can look at the possibility of having Heathwood homes join our group. This portal would be used for all to be connected regarding matters of management, the board, functions, concerns, opionions etc.
We really should be given notice of such a price increase. This is not fair and not a good move from a bunch of individuals who were keen on getting elected as our board. Why should we have to pay for there mistakes and lack of care for all.
ReplyDeleteI agree with this sentiment and believe that the board should be dissolved and new one elected. There is no need for such a large reserve this early in the life of this condo corporation. Our neighboring corporation went though the same issues. It was voted out and replaced and they are much better represented now by both board and property manager.
ReplyDeleteAgree lets meet and elect a new board.
ReplyDeleteI too agree, lets have a new board. I would also like to know that wouldn't it be better if also have a small get together kind of a thing where we guys can know each other and share any problems that anyone might be having with the builder .
ReplyDeleteResident's. John who works for the property management is trying to book a meeting for us next week. We'll aim for the days mentioned on the poll on the side of the blog. He's mentioned that he will try to get the increase postponed until the end of the year; he did mention that if we accept the current agreement that we would have to make up the lost amount later. This is all providing we accept it or elect to go with a new management company. Feel free to contact him and let him know that you are not happy and that you want to have this meeting soon. Let's aim to have Thursday or Friday free next week to meet. I'll update you all when I hear from our contact in the complex who is communicating with him tomorrow. Let's keep pushing for what is fair.
ReplyDeleteSeems like we have a meeting with the board on monday the 22nd at 7:30pm
ReplyDeleteYes, we really encourage you all to not only attend but also try to sign the petition if you like to review or remove the current board as well as consider a new property manager. Some residents will be going around on Saturday morning with a petition between 9:30 to 11am.
ReplyDelete