A condominium is much like a small town where neighbors contribute to the common good of the the neighborhood through their monthly regime fees. The homeowners’ association, or HOA, uses these fees to pay for daily operations of the neighborhood, build up reserves for emergencies, and plan for major improvements. And, like a town, owners don’t like surprises, so the HOA does its best to avoid sudden, large expenses which require special assessments—fees above the regime fees which pay for the unexpected, large expenses, such as a roof replacement or failed elevator electronics.
Current regime fees plus special assessment fees top out at $4something for three-bedroom units and start at only $something for one-bedroom units.
Beginning in 2016, the HOA started on a comprehensive plan to ensure that the building is preserved and protected for years to come. An engineering and systems review was conducted by architects and engineers to identify near-term maintenance and long-term improvements which should be undertaken to ensure that homeowners’ values in their units are preserved and grow.
Safety
Some
- New master fire alarm panel and central office communications devices installed
- Elevator operator and electronics for #1 elevator and elevator car replaced
- Elevator ropes for #2 elevator replaced
- Railings for all balconies removed and replaced
Water Intrusion Management
- Water Intrusion Management
2016 – architect performed engineering and systems review for building
- New balconies – old balconies removed and replacedSealed and restriped parking lots and driveways – replaced old parking stopsInstalled security cameras in parking areas and in building lobbyInstalled new master water zone valves for improving shutoff and draining of water lines for building in an emergencyTuck point and sealed exterior brick on approximately 1/2 of building to prevent water intrusionReplaced caulk on most of skylight on roof over atrium to prevent water intrusionInstituted a systematic maintenance schedule for drain line cleaningImplemented contracts for quarterly HVAC service for common area unitsLaundry facilities contractor upgraded all washer and dryer machinesUpdated landscapingReplaced all light bulbs in building with LED
Projects approved, awaiting contractor start date:
· Paint and repair of exterior ceilings at all entrances and perimeter concrete band between1st and 2nd floors