WHATíS WORSE: OVER SPENDING OR UNDER SPENDING?

By Eric Glazer, Esq.

Published July 22, 2019

           

I just got back from New York and New Jersey. My sister bought a beautiful condo in Jersey and I went to visit. She showed me around the community.  Her specific condo building was in fantastic shape.  Carpets in the hallway looked great.  Walls looked good.  Handsome to say the least.

           

We then went to the main clubhouse.  Beautiful.  Pool room looked dignified.  Wood floors, neat and clean.  Exercise room had nice equipment and the room was in great shape.

           

My sister then tells me she was told an assessment is coming because the board wants to completely re-do the hallways and the clubhouse.  I was surprised to say the least.  She told me that the Boardís attitude is that the place hasnít been updated in about a dozen years and that even though it doesnít look bad, itís time to update everything.  Whatever is spent on remodeling will be recouped upon sale of your home.  The condo needs to be in tip top shape.  No exceptions.

            4

This really got me thinking.  I can tell you that most boards would not have updated this condominium.  It really doesnít ďneedĒ it.  Iím not saying it canít look better, but it really did look fine.

           

Typically, the reverse happens.  The place is falling down.  Paint is peeling off the walls.  The carpet is worn.  There are holes in the walls.  The furniture is old.  Yet, the board wants to keep assessments low and leaves these repairs or modifications for another day and kicks the can down the road.

           

Which type of community would you rather live in?  Which type of Board is better for the community?  One which may over spend, but makes sure the place is in great shape?  Or, one which pinches pennies and is content that the paint on the walls is from 1965?


HTML Comment Box is loading comments...

 

 

About HOA & Condo Blog

Eric Glazer Eric Glazer graduated from the University of Miami School of Law in 1992 after receiving a B.A. from NYU. He has practiced community association law for more than 2

decades and is the owner of Glazer and Associates, P.A. a seven attorney law firm with offices in Fort Lauderdale and Orlando and satellite offices in Naples, Fort Myers and Tampa.

 

Since 2009, Eric has been the host of Condo Craze and HOAs, a weekly one hour radio show that airs at noon each Sunday on 850 WFTL.

   

See: www.condocrazeandhoas.com.

   

He is the first attorney in the State of Florida that designed a course that certifies condominium residents as eligible to serve on a condominium Board of Directors and has now certified more than 10,000 Floridians all across the state. He is certified as a Circuit Court Mediator by The Florida Supreme Court and has mediated dozens of disputes between associations and unit owners. Eric also devotes significant time to advancing legislation in the best interest of Florida community association members.


Join Our CondoCraze & HOAs Email List
Email:  
For Email Marketing you can trust