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2nd Quarter 1999 Welcome to the latest edition of the Manchester Gardens Newsletter
Manchester Gardens Newsletter is published as an informational source to all owners and tenants. It is designed as an interactive communications channel for all. Remember, this is your newsletter, and I welcome any thoughts, suggestions, or editorials. Please write to Condo Realty LLC c/o Barry Cyr, 169 Main Street, Manchester, CT 06040 or call (860)645-1776.
A message from your Property Manager... Historic Changes! As you are all aware, Thibodeau Property Management is a thing of the past- and so is their management style. Monumental improvements have been accomplished at "The Gardens" since the change of management companies. During the past year, I have been managing the association in conjunction with Elite Property Management from my Manchester Office. Thank you for the positive responses and support since this management change. The uplifting comments have been appreciated, and I hope to continue to provide the management services that you deserve. First let me introduce myself as your property manager. My name is Barry Cyr, and I am a unit owner such as yourself. I was a Board of Director for Manchester Gardens from January 1995 to April of 1998. I experienced the ineffectiveness and mismanagement from our previous managers first hand. After the closing of Thibodeau, I was honored to have the opportunity to become your property manager. This additional responsibility complements the real estate brokerage services that I currently offer. Since your board and I began a year ago our focus has been to improve the appearance, and increase property values at Manchester Gardens. To accomplish our goals we began by seeking out superior contractors to perform the work! Only 1 out of 10 contractors are worthwhile, so proper screening was a necessity. As we obtained new people, we terminated the use of the old sub contractors. We wanted to start with new enthusiastic people who provide superior workmanship. I am proud to report that we now have the right people that actually care about the work they do! One reason that we are able to obtain only the best subcontractors lies in the fact that Elite does not use its own employees. Quality companies are now willing to bid on Manchester Gardens jobs because they know that the management company will not always "Win the Bid".
Property values on the upswing! Increasing property values is a constant work in progress, and we are winning the battle. The most important consideration is to improve the first impression that a potential buyer has while visiting Manchester Gardens. Our new subcontractors help keep the property neat and clean, but this is not enough. The behavior of the residents must change if we are to keep the grounds spotless. Our goal...to keep your common fees low! We have instituted many rules regarding leaving disregarded items within common areas. Some residents still ignore our requests, so please take the extra step to notify us if you see any violations occurring. Please take note of the unit number and the date and time of the violation. Our rules are strictly enforced, and we fine any unit owner who decides not to comply. If the property looks like a mess... You will not see a return of high property values. Help the association...If you see litter pick it up. Please take the initiative to help keep the grounds clean. You will help improve property values, and keep your common fees low. Property values are also related to the budget of the association. The common fees at Manchester Gardens were closely compared to those of surrounding communities (This is what a buyer does!). The fee has to be justifiable and reasonable in comparison. After reviewing the data, the Board of Directors looked hard for items within the budget that allowed for a reduction of the common fees. These cuts were possible without compromising the financial stability of the association. Effective January 1, 1999 the fee was reduced. Since this reduction, property values have increased and more owner occupants have moved into Manchester Gardens. The Board of Directors hope that additional cuts can occur as the roofing project is completed. In response to the lower common fees and improved outdoor appearance, we have seen property values triple in some cases. There have been several condominiums listed for sale within the complex in the price range of $28,000-$34,000. I believe that this trend towards increasing property values will continue, as long as we enforce our rules and regulations. Financing for Manchester Garden Condominiums The availability of Mortgages also effects property values. Until recently, few banks were willing to finance property transfers at Manchester Gardens. Their restrictions are due to two major issues regarding the complex. The owner occupancy rate is to low, and the loan amounts were to small. This financing restriction keeps property values depressed because home buyers cannot procure a loan. To solve this problem, I have been negotiating with several lenders to help the association obtain unit financing. New England Bank located on Main Street in Manchester has been the most supportive. We are currently working on a possible banking change so we may build on our existing positive relationship. If you are selling or thinking of purchasing a unit, contact the loan originator for New England Bank, Eric Kincheloe. He may be reached by calling (860) 870-6808. He is the only mortgage originator that I know that can finance these units..(really!).
What can you do to help improve property values? If you are a landlord... 1) Screen your tenants for proper behavior and creditable payment history. If you need assistance with obtaining credit reports, contact me at Elite Properties LLC. 2) Have your tenants sign a form stating that they have read, and agree to comply with the rules and regulations of the association. Copies of the rules and regulations can be obtained by calling me at Elite Properties LLC. 3) Inform your tenants that ABSOLUTELY no items may be placed in any of the common areas. These areas include: front door stoops, outside assigned storage bins, next to dumpsters, or any parking area! All items left will be thrown out, and the unit owner will be issued a fine. 4) Show your tenants where your assigned parking spot is located. Each unit is assigned one parking spot, and one visitor spot. Visitor spots are on a first come first serve basis. Any vehicle parked within another assigned parking spot may be towed at the vehicles owners expense with no prior notification. 5) Please notify your tenants that if they are non-compliant with our rules and regulations, state law allows the association to proceed with eviction regardless of the unit owners involvement. If you are a tenant... 1) Comply with the rules and regulations of Manchester Gardens Condominium Association. 2) Please be courteous to your surrounding neighbors. 3) Keep all common areas clean, do not litter within the parking lot or any other area. 4) Please park in your assigned or visitors spot only. 5) Please do not drive any motor vehicles on any grassy areas. 6) Please keep our laundry areas clean. 7) No automotive repairs should be done on the premises. 8) Do not leave any large items next to dumpsters. I am looking forward to working with you during the next year. I hope you are pleased with the results that have occurred so far. With your help, we will continue these "Historic" changes! Barry Cyr
Roofs Galore! If you live at the Gardens, a day doesn't go by without seeing improvements going on! Especially when it comes to our roofing replacement projects. The past year has been very busy. We have successfully replaced the roofs on buildings 14, 22, 34 and 36. As each roof is replaced, new gutters and larger downspouts are being installed. In addition, each building is having coil stock installed around all the deteriorated trim. The place looks great! Another great thing is the financing! We negotiated an agreement with the contractor to finance 50% of the cost of these roofs for six months with no interest charges. Get that from a bank! What's next? Only two roofs remain incomplete on buildings 28 and 31. We are reviewing our budget to determine when these roofs will be replaced. We hope to schedule another one for this fall. This project will be behind us within the upcoming year! Thank you for your patience during the construction.
Storage Bins Within the upcoming month, all the storage areas will be assessed. We will determine if spaces must be added, and if there should be a reassignment of storage spaces. To begin this process, we will be adding temporary numbers on all the bins. The bins will be numbered consecutively from 1-101. Once the new numbers have been added, we will be requesting that you call us with the new number so we may log which bin you are currently occupying. Once a completed list is obtained, we will remove all items in unused bins and have them secured. In addition, we will reassign certain bins and add some as well. This process will be time consuming, but the overall result will be worthwhile.
Telephone Options... Soon, you will have the option to choose between SNET and Cox Communications for your local telephone needs. As the installation begins we will be asking unit owners to cleanup any exterior telephone lines that currently exist. Please note that our rules and regulations prohibit the running of any wires on the exterior surfaces of the building. By having a choice of telephone carriers residents will be empowered to negotiate the best rate.
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