Curiously, in the September 30th, 2009 Board Minutes, we were told....
"New tenants in '60 2W, paying $925 per month, Scott W & Joshua S, please welcome them."
Considering how we've NEVER been told this sort of information previously for any OTHER unit's renters (including Adam Kroshus' multiple tenants, and Dorr's current tenants), why did the Board
inform us of this?
I have a theory...
When a unit is in extreme default of it's assessments, to avoid losing the assessments if and when the unit is foreclosed, the Board may take possession of it and rent it out, until either the debt is settled or
the unit is foreclosed.
I believe that is what happened here.
To bolster the theory, we have not yet received the Common Expenses for 2009, which would show the income from the unit's rental, probably under "misc. expenses" as well as the total amount of delinquent assessments.
(Nor have we received the 2009 Year End Summary, come to think of it.)
Add to that, the Minutes continually refer to MULTIPLE assessment delinquencies.
Considering that, in the past, we've had almost 50% delinquencies (6 out of 13) at a given time in GOOD financial times (including, gasp, delinquent Board members), the percentage NOW is probably higher (and probably includes Board members, again)!
NOTE: it doesn't, nor has it ever, included us, despite Mara's attempt to charge us a non-existent late fee in March 2008!
Naughty, Naughty, Mara!
By presenting the information as you did, I believe you "technically" informed us of the Board's taking control of the unit without ACTUALLY telling us.
It seems to be yet another classic use of obfuscation by Fox & Foss.
This situation has an interesting side-effect.
It reduces the number of "active" condo units from 13 to 12.
As a result, the percentage of units in assessment arrears against the total number of units INCREASES.
Because of changes implemented March 1st, 2010, no more than 15% of total units in a condo (in this case only two units) can be more than 30 days past due, or acquiring a Fannie Mae-backed mortgage for a unit in the condo would become near-impossible!
(Two owners may find a nasty surprise if they find buyers for their currently on-the-market units!)
Note: as before, "no response" will be taken as tacit agreement with accuracy of information as written, and will be posted as "though offered the opportunity before posting, no correction by Fox or the Board".
No response has been received as of posting.
Interpret as you will.
EXTRA TIDBIT: The silver SUV with the FOX-## license plates reappeared yesterday, and stayed for several hours!
Who the occupant came to see and why it took so long is a mystery.
Was it to discuss strategy?
Was it a booty call?
We may never know!
Wednesday's total for Fox Management Group's still-unpaid bill from July, 2008 (almost two years ago!)...$3,593.04 from an original $75!
They've broken the $3,500 level!
Now that the 1% per workday cumulative late fee is over $35, it's really mounting up, at a rate of $175+ a week! That's more than double the amount they originally owed!
It's over 375 (THREE HUNDRED SEVENTY-FIVE) late charges, and now the amount (with late fees) is almost 47 times the original bill...
Is that just pitiful, or what?
I hope for her sake that Mara's better with her library books and DVD rentals! ;-)
Personally, I think she's a terrible role model for her kids, demonstrating financial irresponsibility (not to mention arrogant stupidity) as being a good thing!
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Thanks for your input.