Many of us have watched a nearby neighbor who always neglected the care of his home.
His home had not been painted in some thirty five years. Windows and frames were in need of repair. His concrete driveway and adjoining curb had not been maintained for many years and was full of cracks and disrepair, and runoff was now finding its way to the basement. The flower beds adjoined to the home had not been properly maintained and they also were causing leakage into the basement. Replacement of flashing where required, had long been neglected and was a further cause of leakage into the home.
Neglect of the perimeter heating lines and air conditioner had resulted in leaking zone valves and expansion joints. Water shutoff valves in the home had never been replaced and several incidents of their failure resulted in costly inconvenience to the family. The humidifier had been removed several years ago in order to save money. This of course at the expense of the health and well being of his family. The ducting for air circulation in the home had never been cleaned, yet further neglect of his family’s healthy environment. The monitor for the home security system failed some years ago and was simply not replaced in order to save money.
Further, this neighbor took no pride in his yard. The lawn was seldom watered, was filled with weeds, and was not mowed regularly. The hanging baskets, once hanging in front of his home have been removed several years ago as he found that caring for them was too much work. His garage floor was filthy, only cleaned once or twice per year. This all, very much an embarrassment to his neighbors.
Although his cash resources were very limited, this homeowner came home one day and announced to his family that he was immediately going to proceed with painting, electrical work, some flooring and carpentry work, towards developing an exercise area in the basement. The cost would be over $7000. His family questioned him as to the priorities within the home, but he simply advised that he had made the decision and that it was final.
The neighborhood at Spadina Towers has experienced this exact same situation with very much the same obvious neglect of the owner. However, given we live in a Condominium, it is the Board that is responsible for such behavior and neglect. The decision to fund the cost of an exercise area of more than $7000, is of course most disrespectful of residents who have been excluded from any participation in this matter. Unfortunately, it is they who will pay for this expenditure which of course should belong at the very bottom of the priority list for proposed Reserve Fund Expenditures. Do residents know, our Reserve Fund is basically depleted, yet a very foolish expenditure has just recently, been made on the exercise room!
Responsible financial management requires consideration of priorities and affordability. The Board, must now demonstrate at least some sense of responsibility, and recognize the priorities and address them with a responsible budget. As is the case with the family mentioned above, neighbors within Spadina Towers are now watching the Board and reports indicate, that they certainly do not appreciate what they see. Resale value of condominium units within the building have been negatively impacted as a result of such neglect and conduct on the part of the Board and management.
Considering the intentional absence of any Reserve Fund Budget, an analysis of the substantial deferred and neglected maintenance and Capital Expenditures at Spadina Towers, has been proposed by others with special emphasis on a responsible priority of these expenditures. It is clearly apparent that most of the neglect relates to the residential Tower. It is very interesting, that those expenditures in the interest of the commercial owner, have in turn, clearly become the priorities. Residential Board members have simply conceded to the wishes of the commercial owner, and have forgotten just who they in fact represent. Your neighbors within the building are watching and again, they don’t like what they see.