Friday, October 26, 2018

$55.83/month

That's how much my monthly condo assessments will go up each month in 2019. I know, because I'm on the board and helped arrive at the amount.

This will pay for:

•  A new intercom system. Amazingly, those of us on the fourth floor (and many other residents) have been without any doorbell for more than two years now. I've gotten used to it, but we know that it's just a matter of time before someone checks and sees that we're not in compliance with village ordinances (I live in a village that tends to have an ordinance for everything).

•  New ceiling tiles in the parking area. The previous board used the wrong type of tiles.Specifically tiles designed for indoor use were installed. The tiles get wet with condensation from the heating and water pipes above, they get heavy, they fall down on the windshields of the cars parked below. We've been trying to repair this on a tile-by-tile basis, but it's actually more expensive to do it that way. We should just bite the bullet and replace 'em all.

•  Roof repair. Being on the top floor, this one is near and dear to my heart. And the top of my head!

None of these things are merely cosmetic. They're all necessary, and the first two are way overdue.

But I'm not happy about this. $55.83 is an 18% increase. There are so many other things I'd rather do with that $670.

Sigh.

Ironically, we got an offer from a local real estate office. A developer wants to buy our building. All 24 of us would have to agree to it -- and it's hard to get all 24 of us to agree on anything -- but it would result in a windfall. Probably $50,000 more than any of us would get if we sold individually (way more for me, since I have crappy carpeting and my living room windows should be replaced).

I'm for it. At this stage, that infusion in cash would be so welcome.

But if the offer turns out to be legit, and if we all agree, the developer will tear this building down and replace it with a high rise. So the ceiling tiles, the roof and the doorbell won't matter.


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