51 Northrup Drive. Last year, 2014, it was acquired by the Burnt Tavern Manor Condominium Association. That means we, all together, each and every one of us, now own the unit as part of our common areas. The paperwork recorded with Ocean County’s clerk is a deed that lists the Association as owner with a mailing address of the attorney. Hmm?
At previous Association meetings, a member had suggested selling the unit in order to pay our grossly overdue water bill. It was pointed out the Association would need to vote to sell it and it would take a super majority to do that. So the alternative is to rent the unit and apply the rent towards our costs.
Months had gone by with no apparent occupants. However, recently lights have been seen shining in windows and off the balcony. Regular coming and goings of a person, with his van and dog, have been sighted. So raises the question; what’s going on with it? Did we rent it out, sell it? Etc?
So we keep asking, “Whatcha up to?”
Dennis,
Want you to know that I appreciate everything you do for the community. As a resident for over 18 years, it hurts to see how this once lovely and quaint neighborhood has changed. I am hoping that with the higher HOA’s perhaps we will move in the right direction with up keep of the buildings and a “better” class of homeowner/renter. 😉
Thanks for the comment. Like you, I’ve been here over 12 years and have seen the same decline. Unfortunately, higher fees with the same misguided management will only continue to cost us all and continue the decline. As fees go up and the appearance declines from poor maintenance, the values drop. Higher fees also mean lower sale prices, if there is no other value to compensate. Higher costs to join the association for new members also hurt the market values. Add the owners who need to move for jobs or family growth or just have had enough, but don’t have enough equity to sell at a discount, then you see the increase in new first-time landlords. And that results in more bad tenants, adding to the decrease in property values.
All this can be turned around with competent Board members. When the property manager is the only one calling all the shots, who do you think is being served? The members of the Association, or the PM’s pocket? It is said we have a 5 member Board. It’s really 1 PM with 4+ cronies.
You may also want to read the article about the assessments “ASSESSMENTS – ARE YOU PAYING TOO MUCH?”. Then ask yourself, ‘Why are you being over-charged?’
I talked to one of the neighbors and they confirmed that Tim Hanna, the maintenance guy, had been staying there. Another neighbor told me he was having some personal issues. Personal issues aren’t our concern, I just hope as landlords, we are charging full market rates and have a regular annual lease.