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Hell is other condo owners
I agree with many aspects of the article. I own a condo in Asbury Park, New Jersey, The Presidential Condominium, 1615 Park ave. It was a nice place to live when I bought it years ago. Maintenance was around $300 (higher than average) but tolerable. Around 2006 things started to go south. The owners had always kept money in the reserve fund to take care of problems. Assessments were planned and evenly & economically implemented. We had a major roofing issue (cost over $100,000) and the association had money on reserve. The board decided to do an unnecessary $80,000+ lobby makeover. The other six floors were neglected & so was the roof. Next a bright idea from the board: assessment to replace the misspent fund & roof assessment. There was outrage & push back from some owners but it was met with disrespect from the board & the association lawyer. Many people including some of the board members sold their property to get from under the predicament they had caused. I now pay maintenance of over $600. No, there aren't any amenities to justify the cost, unless you consider having access to the main lobby doorbell an amenity. Each new board seems to worse than the last and in conjunction with the Townsmen LLC management company matters are worse. Transparency is a major issue. We paid money into a "beautification" fund, and when asked to see a list of what we paid for at a board meeting one of the board members became up-hauled at the mere question. We later learned that part of the fund was used to repair the boiler and that the remainder of the funds was more than enough to do the beautification. Therefore, we were going to over pay for another project. The list goes on and on. I wouldn't recommend condo living, especially not at the Presidential under Townsmen LLC management. Interview as many occupants as possible before making the decision to buy a condominium.— October 22, 2013 5:51 a.m.