Ask your landlord

I hope the renters all have bad landlords so maybe the renters will all move out.

Fee reduction

I see that you haven't lived here very long or you would run for a BOD position in the past and save all that money that you don't understand where it went. This is the trouble with discussions, too many people think they know what's best for the Association and they really don't understand financial matters at all.

Who doen't understand financial?

Who doesn't undertand financials, me or you? Again, the numbers are so simple any 8th grader could figure out. Go ahead and tell the other 100 homeowners who never serve on the board or attend meetings that they have no legs to discuss financials. Like James said, same as he, I put my total trust on the board until hearing about 2 mil. loan. If the current board could spent $346K in 2 years, while still able to pay for operating costs, roof repairs, refill potholes, why not Sherry's board who had 4 years and twice the budget of $346 x 2 = $692K ??? Oh please don't say it went to termites, pool rehab, gutter repairs. If you think you could understand financials so well, then explain $80K for one building rehab. Contractors overtime, X-mas bonuses maybe? Look at the current newsletter and see the maximum amount the current board spent for one big building. You mean there is a biggest building around here?
If you understand financials so well and regularly attend meetings, why not question the previous board where the money went, unless you're an ex-board member who couldn't calculate simple math and let the lawyers, management, handyman, tow trucks running away with OUR money and YOURS. Here is the simple calculation if you still haven't figured out: $52 (fee reduction) x 141 units = $7332 per month x 12 months = $87984 per year x 4 (years under Sherry) = $351,936 that could have been saved. Generously take away $100K for termites, pool rehab, gutter repair our reserve account should still wind up with $200K when she left her board. Cecilia's board at least only managed SPW for one year so they threw away our money even less than Sherry's board. Correct?

By Anna

A Word of Warning

Even though we have substantially reduced maintenance fees, be warned that we're not out of the woods while doing so. We're still paying double for insurance as compared to years 2005 and earlier. Water & particularly electricity are substantially higher. Garbage disposal upon recent renewal, went up 3 times without our knowledge. We fired them in a hurry and got another contractor. We still have a couple more buildings to go for rehabs. Anything major that happens between now and up until we have a comfortable amount in our reserve account could mean trouble. A hurricane, a fire or something that would jack up our insurance premiums could quickly put us in a hole. Roofs and foundation are still in decent shape but in time would need repairs. That would leave the board no choice but to impose a special assessment or increase maintenance fee to where it was.

With that said, let's just forget all of the past and enjoy our lowering fees while we can. At the same time let's pray that nothing would happen. At least we as SPW homeowners are getting back something we have long deserved. Managing money & maintenance for a 141 unit complex is not something that could be done easily. Be thankful to those board members who volunteered their time for free and had to put up with all the headaches. Then get blamed when something went wrong. Just keep in mind that as homeowners, we all should stay involved and should ask questions when something doesn't seem right. A board would certainly listen to homeowners input if there are enough homeowners who stay involved. That means you should attend meetings to hear on-going progress what the board are discussing. If the board often excuses you and get behind closed door, that means they're hiding something. The board should be transparent with nothing to hide. Get the copies of the meeting minutes and utilize our website to share your knowledgte with each other. Ex-board members are big help since they have valuable knowledge that you could only be learned as a board member.

I still haven't found a board member who could replace me as Treasurer. If I resign then the current board would appoint someone of their choice. I will keep in tough with this person. I certainly would not leave this website to the person who is not capable of managing a website, could not use electronics as a mean of communication and could not participate in constructive discussion. As I said, I will stay involved even if I'm away from here. I will always have an interest in SPW issues since my sister is still here and since I know too many good hearted residents around here.

By James