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Re: Important Update Affecting Resale Purchasers

What I would ask you all is to think about what you would do in the position of board member? Would you ask other members of the association what they would like to see (they too are only owners themselves) or would you simply send a letter telling the other owners they now owe $5K (in my case) with no consulation. I knew nothing about the refurb till i booked into my accomodation last year. The figure has doubled since then and despite repeated requests to speak to board members or have our questions answered .......... silence. We have developed many properties over years and we cannot believe the actual costs here. We do think that the refurb is looooooong overdue but there are so many things not thought through about this. Look at the costs. There is almost 25% contingency when everything has been planned for. This contingency is so that we pay for Starwoods weeks once they take posession from those who give up their units. Over $100K per unit of 2 bed. The credit crunch comes and they keep going gun ho like nothing has happened. Builders are cutting prices to get work but do they revise costs again? No. Pay at your own peril. Personally I'd rather get answers first than hand over my hard earned cash to a bunch of dictators with little business accumen and even littler respect for their fellow members.