Condo Media - August 2011 - (Page 36)

MAINTENANCE by Jack Carr, P.E., RS, LEED-AP A CONDOMINIUM Don’t Let Your Happy Ending Turn into a Nightmare DREAM IN TRANSITION citing the need for a “transition study” to quantify the major construction defects plaguing the complex. Others are asking about warranty period expiration dates, while others are asking if they should hire a lawyer or an engineer first. You look around the room at the gathered association members and realize most are in the same fog as you. This is often how association members find out there is a problem with the developer, their condominium, their finances or all of the above. It does not have to be that way. Transitions can be a smooth, orderly process in which all parties get what they need. Instead, and unfortunately, the call for a transition study often comes when communications between the developer and the association have all but broken down. A condominium transition is not a single event, but rather a process. The irony of the transition process is that this important milestone in the history S o you finally scraped enough money together for your down payment on your first home. Your offer has been accepted and the bank has approved your financing. Even better, it is a shiny new condominium complex in a great neighborhood close to shopping and hiking trails. You are moved in and enjoying your first day in “Condo Heaven” waiting for your new furniture to arrive. And then you read the notice in the lobby about an association meeting tonight to discuss transition issues. Well, you are aware condominiums are different from the apartment building you just left. You know a board runs the association. You remember monthly assessments go into operating and reserve accounts, but the term “transition” is new and not in the condo lexicon you have been recently acquiring. Issues Unfamiliar and Unknown At the meeting, you find out you are not alone. Members of the board are 36 CONDO MEDIA • AUGUST 2011

Table of Contents for the Digital Edition of Condo Media - August 2011

Condo Media - August 2011
From the CED’s Desk
Editorial Board
CAI News
CAI Regional News
Asked & Answered
Homeowner’s Corner
Smooth Operations
Vendor Spotlight
Industry Perspective
Advertisers Index
Classified Service Directory

Condo Media - August 2011