A Briarcliffelakes Manor Homes Owner: How Important are Assessments for Upholding Resale Value?

Tuesday, January 6, 2009

How Important are Assessments for Upholding Resale Value?

"Indeed, the most important thing that any individual homeowner can do to protect the value of his biggest asset is to see that the house is always kept in good repair. There's no price bonus for the best-kept house on a shabby block, but there's a big discount on the worst house in a good neighborhood."

The above is from the online version of the Wall Street Journal, in an article titled "Read This Before You Remodel" on January 6, 2009.

Here is a link to the original article, but it may only be accessible to those who are subscribers:

http://online.wsj.com/article/SB123120680932356151.html

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I have taken this stand, and this is where I am coming from:

If the following sounds like something desirable or something to be achieved and to strive for, then to the unit owners, of which I am one, I suggest that we make it happen.

If you are a visitor and this sounds good to you, then I suggest you consider purchasing a unit and move here. You too can be a part of this community and "make it happen."

The following is excerpted from a post dated April 14, 2010 and builds on and consolidates themes posted here,

1. I'll provide a forum for dialog and alternative views. I'll provide explanations and information about condominium living, and living in this extraordinary community. I will attempt to achieve balance in this blog. I will attempt to provide a balanced view. However, I won't gloss over or ignore problems nor will I amplify them. For fundamentals and basic information go to the official website of this association: BLMH.org

2. To achieve item 1 above, I need your cooperation, the cooperation of the unit owners and of the Board of Managers.

3. The unit owners may be the "heart and soul" of this association, but the Board of Managers are the leaders. With leadership comes extraordinary opportunity and extraordinary responsibility.

4. I am committed to keeping our board accountable to the unit owners. That's today and tomorrow.

5. I am committed that our board will, at all times, operate in accordance with the Illinois Condominium Act, our Bylaws, and the Rules and Regulations of Briarcliffe Lakes Manor Homes.

6. I expect our Board of Managers to operate this association at all times as a business.

7. I expect our Board of Managers, as individuals and as a group, will understand what "Fiduciary Duties" are. I expect our Board of Managers, as individuals and as a group, will uphold their Fiduciary Duties.

8. Once a unit owner announces their candidacy for the board of managers, they are announcing that they have given up their personal agenda and their rights to a personal agenda. They take on the responsibility for their training and education so that upon assuming a position on the board they are ready to "hit the ground running." Appointees to the board should understand this, and are making this agreement.

9. Each member of the Board of Managers is accountable and I expect that members of the board will hold each other accountable. Each member should have specific duties and responsibilities. Because all members of the board vote on and act on any and all issues, they must be capable of understanding those issues, the governing documents and act accordingly. It they are not, it is their personal responsibility to acquire and achieve the necessary education.

10, I expect our Board of Managers, as individuals and as a group, to understand the Illinois Condominium Act, our Bylaws and our Rules and Regulations. There are no excuses. Ignorance or stupidity are not acceptable.

11. I expect the Board of Managers, at all times, to act on the behalf of the entire unit owner body, in their capacity as "fiduciaries", and I will not accept the promotion or creation of sub-groups or multiple tiers of unit owners.

12. I expect our Board of Managers to exhibit "critical thinking" skills and common sense at all times.

13. I am committed to educating the unit owners. Members of the Board of Managers are also unit owners.

14. I am not stupid. I leave that to others. There seems to be more than enough of that to go around in this world.

15. I am not entitled. I leave that to others.

16. I'm not asking your permission.

17. This is not a popularity contest. This is about getting results. If you want reasons, excuses or any other blather, then talk to your friends, or go to a coffee-klatch or sports-bar at your own expense. But don't spend my money or that of your neighbors in the process of achieving your entertainment.

18. This is about workability, the conditions of satisfaction and keeping agreements.

19. No one forced any of us to purchase here.

20. I'm a unit owner. Living here is an opportunity and a conscious choice and no one is forcing any of us to be here. So pitch in; this boat of ours has 336 oars and one has your name on it. A HOA is a community and we each make a difference, whether we know it or not.

21. We are adults and we should act as such. That means being accountable and responsible and acting as members of a community.

22. I don't want your money, given voluntarily or as a forced donation. I think fees are a precious commodity and once spent can never be recovered. I don't want you to pay for a bench in front of my unit and I don't want to party on our lawn. That's what the public park across the street is for. Take advantage of all this community offers and that includes that park!

23. We don't live on a used car lot, on a racetrack, or on a storage lot for boats, trucks, campers and trailers. This isn't a litter box. This isn't someone's personal playground. The Rules and Regulations state so.

24. I expect our board to have sufficient backbone to enforce the rules and regulations consistently, uniformly and fairly at all times.

25. According to the rules and regulations, businesses run from our units must adhere to specific standards and limitations. The board should be vigorous and diligent in this area. I believe certain types of prohibited income generating business activities could be garage sales, used car sales, flea markets and similar activities on BLMH property. If you want to run a business, rent an office offsite or adhere to the rules. I would expect the board to avoid lenient interpretation of these rules.

26. As for our board in general, they should be willing, able and capable to stand up to unit owner demands when the Illinois Condominium Act, our Bylaws and our Rules and Regulations are at issue. It is not acceptable for board members to look the other way when there are violations or attempt to change the rules and bylaws to conform to the actions of individual unit owners. The board cannot please everyone and build a sustainable community. I do not agree with the position that the correction of problems at BLMH is to be achieved by changing or overlooking the governing documents. That is some one else's definition of "change"; it isn't mine and I assume it isn't yours.

28. You may think that I expect too much from our Board. I suggest you consider that your standards are far too low.

29. I don't like social experiments; there is far to much at risk, and once committed it is very difficult to undo the changes that have been made. Nor is BLMH a social club; it is a community.

30. I believe that 80% or more of the unit owners at BLMH are community moderates. They uphold the rules, pay their fees, can and do lend a hand, and are good neighbors. The others? They are the ones that are to be concerned about.

31. Party on dudes, but not at my expense.

32. I know they pretend I don't exist, that this blog doesn't exist. But I do.

33. I do understand that by "taking a stand" I am choosing, among other things, integrity over popularity.

34. If you have a problem with any of this, you know where to find me.

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What this is about and how to Navigate

Hi:
I'm a condo unit owner. This began as a place for me to post my personal observations of life at the condominium. However, it quickly morphed into something else. I have decided to become a more visible and vocal resident of this community. In the process, I will be of service and make a contribution.

To that end, I am attending more association meetings and it is my commitment to support our board in honoring their responsibilities and commitment made as board members, and their campaign promises.

I will also post items relating to costs and cost saving measures for unit owners, and will perform independent analysis of association budgets, assessment adjustments and so on.

I'll delete names and personal data from what I post, to respect everyone's privacy. If you have an issue with my postings or can provide ideas or other insights, please email me and explain them. I'll respond to any and all emails, and I'll post your point of view and information. Thank You!

Click here to send me an email:
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Updated Surplus Numbers

Average fees prior to 2019

Better budgeting could have resulted in lower fees

Tuesday, January 6, 2009

How Important are Assessments for Upholding Resale Value?

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