Condos are great. They are low maintenance, they're easy to rent, they're pretty affordable. Except for the condo fees, which can apparently change on a dime, condos are good.
Take my condo for instance. Low condo fees of $258, until oh, a week ago when they announced that the place has $880,000 worth of balcony repairs to do and hey, they don't have the money. So everybody if you don't mind, starting in say, 2 weeks, condo fees will suddenly now be $458.
EDIT*** By the way, the estimated amount EACH unit owner will pay is between $6000 and $8000 in late Spring. Now say it with me .... HOLY....MOTHER....OF.... GOD
WTF!? (And more importantly, CAN THEY DO THAT!?)
Funny thing is, I emailed our property manager who says sorry to be the bearer of bad news, but we've KNOWN about this issue for FIVE YEARS. She says, remember when each unit had to pay $800 towards a special assessment back in 2005? I say noooo, I moved in there in November of 2007 and nothing was said to me. In fact, I KEPT every document from that sale that passed through my lawyers hands to mine. I can assure you nothing was in the property disclosure, the condo notes, the memos, the declaration NOR, in fact, has it been mentioned in ANY MEMO SINCE or any annual general meeting agenda notes. Not a word, until very recently, like the past month.
I have a feeling I need to see a lawyer. One could possibly argue buyer beware, which may or may not apply here. I don't know. I *thought*, however, that condos were ruled by regulations that would cover these kinds of unfortunate events? Again, don't know. RIght now I'm just very, very irritated.
Today for everyone, for September 21, 2010
The Sun opposes Jupiter and Uranus today, and we could be feeling conflicted in terms of what we think we should do and what we want to do. We could be overestimating our capabilities. Culminations or surprising changes to a project or ambition might emerge now. Sudden changes of plans or opposition to our plans are possible and could stimulate us to try new approaches. The Moon is in Pisces all day, and Mars' parallel to Pisces' ruler Neptune can result in some level of confusion or possibly disillusionment. It's not the best time to make solid plans or agreements, but creativity levels can run high.