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Early on New Year’s Day, residents of Fahrenheit condominiums discovered one of their two building elevators had been vandalized. Many homeowners who came upon the scene were furious over damages to the communal area.

“This totally sucks, but whoever had a party last night, someone got out of control and punched one of the elevator cars, left a bloody mess, and damaged the audio within the car… This will cost ALL OF US if no one steps up and claims responsibility,” said homeowners' association boardmember K. Gallagher on a building message board.

In the tough economic climate, some units in the building have been lost to foreclosure while others are being rented out on short-term leases or as vacation lofts. There have been growing concerns among homeowners for general building welfare and property values as more and more renters move in to the downtown condominium.

“The fallout of the market has attracted a more PB-like demographic to the building, most of which are renters. It's a shame,” said former HOA president B. Randall.

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Comments

shizzyfinn Jan. 6, 2010 @ 3:55 p.m.

Interesting article. Thanks for the report.

One side-story in the real estate disaster is how condo owners could be liable for higher HOAs just because fewer units are occupied, meaning communal costs are spread over a smaller base. I hadn't yet heard of additional HOA inflation risk coming from renegade renters, but it makes sense.

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itsmechuck Jan. 6, 2010 @ 7:43 p.m.

Very Interesting....
When we moved in, everybody knew everybody; now I can count on my fingers those I know by name...

I regret the P.B. slur, but if the shoe fits...
About the same time as Fahrenheit', a vehicle drove into, then over, our P.B. Drive HOA's 7' x 20' steel underground parking gate. Surprise, no one has taken responsibility here either.

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PistolPete Jan. 6, 2010 @ 7:59 p.m.

Isn't this a "America's Finest City" tax?

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shizzyfinn Jan. 7, 2010 @ 7:36 a.m.

I'd wager this type of thing is going on in all cities with surpluses of condominiums.

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PistolPete Jan. 7, 2010 @ 10:07 a.m.

I have 0 sympathy for anyone stupid enough to join a HOA.

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