Comments on: repairs: 1233 1235 1237 1239 west 7th ave http://vancouvercondo.info/2008/01/repairs-1233-1235-1237-1239-west-7th-ave.html?utm_source=rss&utm_medium=rss&utm_campaign=repairs-1233-1235-1237-1239-west-7th-ave Bubble? What Bubble? Thu, 24 May 2012 04:30:56 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: m http://vancouvercondo.info/2008/01/repairs-1233-1235-1237-1239-west-7th-ave.html#comment-8881 m Wed, 23 Jan 2008 23:00:55 +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 Wed, 23 Jan 2008 23:00:37 +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_ Wed, 23 Jan 2008 22:58:59 +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 &frac12; 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 <a href="http://tinyurl.com/2qf6v3" rel="nofollow">http://tinyurl.com/2qf6v3</a> Dave said that the terrace units are the first to face leakage problem . <a href="http://tinyurl.com/32h9f5" rel="nofollow">http://tinyurl.com/32h9f5</a> Soon after the completion of the building, the external walls of some units found seepage. <a href="http://tinyurl.com/3exjtz" rel="nofollow">http://tinyurl.com/3exjtz</a> Dave said that the three apartment buildings will require a total of C$29 million for comprehensive maintenance. <a href="http://tinyurl.com/yu54ml" rel="nofollow">http://tinyurl.com/yu54ml</a> 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 &frac12; 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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