Paying future

Homeowners should reflect on the high cost of expenditures for our 30 year old condominium complex for the year 2007 so far. We are in what could be termed a “re-building phase” of our condominium complex that was built in the 1970’s, dealing with issues (and their related costs) long put off by previous homeowners and the Boards they elected. Total funds for January 1, 2007 were $101,087. Total funds for May 29, 2007 were $75,132. Expenditures have outpaced income for the many reasons mentioned in previous posts, and are also impacted by the high demand for window repairs, new entry doors, window screens, and screen doors and also by the continuing problem of a number of homeowners that do not pay their homeowner dues. The dollar amount for non payment of dues averages yearly at about $15,000. This figure does not include attorney fees. [In 2006, the month to month high was over $20,000; this dropped significantly to around $10,000, immediately following the passage of the new, revised Rules & Regulations, which raised the late fee from $10 to $25].

Children present

There have been several reported near miss accidents near this area of the complex.

Fire

In 2004, Kenthill Townhomes experienced a fire in one of its buildings. The fire cost the Association approximately $14,000 (see post dated Sunday, August 27, 2006). At the 2007 Annual Meeting, it was reported that the 2006 Dryer Vent/Chimney Cleaning Project was all in all a failure, with the majority of applicable homeowners choosing not to participate. Since this topic is considered a critical safety issue, and since historically it has been the case that most applicable homeowners choose not to participate, thus affecting the safety of both people and property, a new approach will be enacted the next time cleanings are attempted. At the 2007 Annual Meeting, it was announced that the Board will simply solicit competitive bids for the project, choose a contractor, and let them handle the entire job (from start to finish). The necessary funding to accomplish this, although very expensive, will be built in to the budget.