Comments on: repairs: 1233 1235 1237 1239 west 7th ave http://vancouvercondo.info/2008/01/repairs-1233-1235-1237-1239-west-7th-ave.html Bubble? What Bubble? Thu, 09 Feb 2012 12:51:02 +0000 hourly 1 By: m http://vancouvercondo.info/2008/01/repairs-1233-1235-1237-1239-west-7th-ave.html#comment-8881 m Thu, 24 Jan 2008 07:00:55 +0000 http://vancouvercondo.info/2008/01/repairs-1233-1235-1237-1239-west-7th-ave.html#comment-8881 My last building (Kitsilano wood-frame condo) was repaired before I bought into it, at a cost of ~$25,000 per unit, plus $3,000 per unit in legal fees. The lawsuit eventually recovered $4,000 per unit out of the architect's insurance company.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-8881">0</span> <small>(to vote for this comment, please visit the site)</small></p> My last building (Kitsilano wood-frame condo) was repaired before I bought into it, at a cost of ~$25,000 per unit, plus $3,000 per unit in legal fees. The lawsuit eventually recovered $4,000 per unit out of the architect’s insurance company.

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]]> By: kingleaky http://vancouvercondo.info/2008/01/repairs-1233-1235-1237-1239-west-7th-ave.html#comment-8880 kingleaky Thu, 24 Jan 2008 07:00:37 +0000 http://vancouvercondo.info/2008/01/repairs-1233-1235-1237-1239-west-7th-ave.html#comment-8880 Thanks for the links milo, thats a pretty crazy bill. Most of the repair bills I've heard of have been around 50 - 80k per condo, but thats for smaller units.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-8880">0</span> <small>(to vote for this comment, please visit the site)</small></p> Thanks for the links milo, thats a pretty crazy bill. Most of the repair bills I’ve heard of have been around 50 – 80k per condo, but thats for smaller units.

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]]> By: milo_ http://vancouvercondo.info/2008/01/repairs-1233-1235-1237-1239-west-7th-ave.html#comment-8879 milo_ Thu, 24 Jan 2008 06:58:59 +0000 http://vancouvercondo.info/2008/01/repairs-1233-1235-1237-1239-west-7th-ave.html#comment-8879 Singtao has a story on residents plagued with over $100k-per-unit leakycondo repair and legal costs that push up the monthly condo fees to >$3000 per month. 3 buildings totalling 237 units under the same owners strata have paid legal fees of nearly $1.5M between 2003 and 2007; and a further $1.2M is allotted for legal fees, in addition to $29M to repair the leaks. Resident Dave said his share of legal fees will be $4,640 and repair costs $120k. Half of that legal fees (4640/2=) $2,320 had to be paid by December 15 last year. 1/3 of the repair costs $34,800 must be paid by middle of January this year, Balance of ½ legal fees and 2/3 repair costs to be paid by monthly instalments – Hence Dave’s monthly payment (over $3,200) consists of: - nearly $400 strata fee - $100 legal fees - $2,706 repair costs http://tinyurl.com/2qf6v3 Dave said that the terrace units are the first to face leakage problem . http://tinyurl.com/32h9f5 Soon after the completion of the building, the external walls of some units found seepage. http://tinyurl.com/3exjtz Dave said that the three apartment buildings will require a total of C$29 million for comprehensive maintenance. http://tinyurl.com/yu54ml BC Expo86 land was sold in 1988 for around $300M. Governor’s Tower, Governor’s Villa I & II were built between 1994 and 1995; each unit over 1000 sq ft was originally sold above $200K, about the sale price of a SFH in Richmond at that time.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-8879">0</span> <small>(to vote for this comment, please visit the site)</small></p> Singtao has a story on residents plagued with over $100k-per-unit leakycondo repair and legal costs that push up the monthly condo fees to >$3000 per month.

3 buildings totalling 237 units under the same owners strata have paid legal fees of nearly $1.5M between 2003 and 2007; and a further $1.2M is allotted for legal fees, in addition to $29M to repair the leaks.

Resident Dave said his share of legal fees will be $4,640 and repair costs $120k.
Half of that legal fees (4640/2=) $2,320 had to be paid by December 15 last year.
1/3 of the repair costs $34,800 must be paid by middle of January this year,
Balance of ½ legal fees and 2/3 repair costs to be paid by monthly instalments –
Hence Dave’s monthly payment (over $3,200) consists of:
- nearly $400 strata fee
- $100 legal fees
- $2,706 repair costs

http://tinyurl.com/2qf6v3
Dave said that the terrace units are the first to face leakage problem .

http://tinyurl.com/32h9f5
Soon after the completion of the building, the external walls of some units found seepage.

http://tinyurl.com/3exjtz
Dave said that the three apartment buildings will require a total of C$29 million for comprehensive maintenance.

http://tinyurl.com/yu54ml
BC Expo86 land was sold in 1988 for around $300M.
Governor’s Tower, Governor’s Villa I & II were built between 1994 and 1995; each unit over 1000 sq ft was originally sold above $200K, about the sale price of a SFH in Richmond at that time.

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