The Inside Scoop On The Ongoing Drama At Quantum On The Bay

Quantum on the Bay condos

Quantum on the Bay condos

A building that was once known for its sweeping bay views and convenient location is quickly becoming known for its incessant drama and infighting, and there are no signs of a slow down at Quantum on the Bay. In a letter to residents of the South Tower, Sue Nelson (the new South Tower board president), details her grievances with the way the building has been run and we have to admit that she has a point.

Two years ago, as a new member of the South Tower condo board, Sue was reviewing the “2014 Actual Expenses” spreadsheet and noticed two line items that seemed “off.”

1 – Water Expenses: While $1,000 was budgeted for the year, the actual amount paid was $13,480! After further investigation, it was discovered that the overage was for bottled water for the management office. That works out to over $1,000/month for bottled water, that’s a lot of water!

2 – Housekeeping Coverage: While the management company has 10 housekeepers on payroll for Quantum, whose salary expenses are passed to the owners of the building, there was still a $26,000 charge for “Housekeeping Coverage.” This was a fee that was paid to a separate housekeeping company to provide additional housekeepers on an “on-call” basis at a higher hourly rate than the full-time staff earns. To complicate matters further, it appears that the housekeeping company in question is owned by the partner of the former North Tower condo board president, who was in office at the time of the expense.

In an effort to remedy this double expense, Nelson proposes to outsource all of the housekeeping department to one company. According to an estimate she received, this would save the owners upwards of $100,000 per year, while providing better equipment.

Communication

As we saw in last month’s spat, the board members are also displeased with the Master Board’s insistence that they remain the sole source of communication between the boards and the residents. The South Tower Board has now regained the ability to send messages directly to its residents, but from what I understand, the North Tower has not.

Condition of the Building

Once everything is settled, the owners would ultimately like to see the building maintained more efficiently. They shared photos of the valet area, that once had shrubs and greenery in the planters along the entry, but are now filled with cement and rocks. The tiles are chipped and the ones that were replaced were not replaced by tiles of the same color, leaving a mix and match look as the first impression when visitors arrive at the building. They feel it looks cheap, and they are right.

Do you think the building owners and the Master Board will be able to settle their differences without (another) lawsuit?

 

 

 

Get Your Popcorn! Drama Is Going Down At Quantum on the Bay

Quantum on the Bay condos

Quantum on the Bay condos

There’s a battle brewing at Edgewater’s Quantum on the Bay, and the weapon of choice is the elevator bulletin. Apparently, the owners of units in the South tower saw that the sales prices in the building have gone down drastically, farther than competing buildings in the neighborhood and they are not impressed one bit.

Many feel that the condo association should take better care of the building. A better maintained building will better hold its value. That makes sense, right? Well, not to the management office. The owners are demanding a recall of the management company for the Master Association. (There is a management team for each residential tower of the complex, and then a third management team for the common areas/retail space/amenities that are shared between the towers.) They demand a new management team be put into place that will take better care of the property… and they have a point. The building could really use a fresh coat of paint and a good shining up.

Quantum Elevator Bulletin

While most people agree, condo management offices are not known for being fun to deal with, but the management office at Quantum really is a piece of work. They’re currently being targeted in a class-action suit for price gouging applicants in an effort to beef up the bank accounts, and it appears they also don’t treat their owners well either as evidenced by the next elevator bulletin.

Quantum Elevator Bulletin 01

Aside from the building not being properly maintained, the ongoing legal drama has affected sales prices as well. The building threw a party for the owners and residents in May of last year to celebrate the big win of their construction defect claim against the developer and we were hopeful that mortgages would be more attainable for prospective buyers. Just six months later in November, the class action suit began, making mortgages unattainable once more.

In my opinion, the legal drama hurts values even more than the need for paint, so they need to get their acts together one way or another. In the meantime, I’ll continue reading the elevator bulletins using my best Bruce Buffer voice.