Friday, October 5, 2007
Anonymous comment on terraces/roofing
If anyone is planning on adressing the incompetent maintenance decisions being made on our behalf, they should take a walk on the terraces of Building 3. The silicone has popped up away from the railings because of the settled water. There is more water laying around up there, especially on the 5th floor courtyard side terrace. The membranes are very spongy and bubbled in several areas which also indicate rotting and water underneath, that means leaks in the units. Also check out the terrace on the Riviera side on the 5th floor. The water never drains from the edge. There is mould, rotting membrance and the roofing material Galiano put by the flashing is disintegrating. Hope this helps.
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5 comments:
so what, we have banana trees !!!
Perhaps "Bruno" can sell off the hotel in the 2 dollar store. It certainly looks like that's where its heading. You people will never learn how to repair a roof and will continue to pour money into a bottomless pit. It really is time for professional management before the bottomless pit absorbs the entire hotel!!!!
I am also very, very concerned about the financial viability of Coral Beach. I have been sitting back and taking it all in, but have to admit it all adds up-
1. owners are unable to see the financials, even though the board says they can
2.no certifed financial statements for 2 years
3. a Shell Game is being played using excuses, accounting software changes,computer changes
4. chairman's girlfriend "working" on the accounting in privacy of their apartment, away from prying eyes
5. street thug tactics used against people who openly speak
up ( electricity turned off for extended periods of time, denial of rentals, personal threats against them and their families)
6. board never answers questions owners have a right to ask about, such as the financials, the roof leaks, the terrace repairs, the stalled spalling project.
Instead they direct attention away from those legitimate questions by pointing to all of the superficial improvements they have spent your money on, followed by a diatribe against "Hard Core Renters", Slate of 7 Losers,etc.
These are blatant stalling tactics which makes me very uneasy about the situation at Coral Beach. It should you, too! Every time any board member does not answer questions openly and directly, or makes excuses about the lack of financials that by law they are supposed to provide, or tries to direct our attention away from these very serious issues, alarms should go off in every owner's head. What is the board hiding and why? Something is very rotten at Coral Beach.
Each of us, even those owners who like to think they are protected by being a part of the "In Group", must ask some very important questions, such as:
What consequences will we owners likely pay for our passivity -possible bankruptcy of Coral Beach? Is it possible this scenario could be the plan all along since the current board has taken control? What other plausible explanation could there be for hiding financial information from us? What other plausible explanation is there for not providing timely minutes that give details of what is discussed at board meetings?
Each and every owner who values his or her "piece of paradise" should call his/her attorney and ask what will happen to your investment at Coral Beach if it becomes bankrupt; more importantly,ask your attorney what your options are if Coral Beach is bought out of bankruptcy by an individual or individuals who are able to control the votes.(do you know who has been buying multiple apts these past 2 years?) Will it be too late to stop them if it turns out those people have a different vision for Coral Beach, such as turning it into time shares, a popular Pyramid scheme.
(check out the Coral Beach webpage on the GBI Tourism website which shows "time shares" listed under Property Description).
There will always be those owners who are apologists for the board and will say there is no proof of wrongdoing or the above hypothesis. They miss the point. The burden is on the board, any board, to prove to the owners they are being good stewards of the owners' money. They must prove it to us, not by paying lipservice, but through open disclosure of all documents, including financials. By not doing so, they provide plenty of circumstantial evidence for building a case to the contrary.
Coral Beach is ours to lose. All it will take for that to happen is for enough owners to stay in denial or remain passive in the face of the obvious. It is your apartment, your investment, your vacation home at stake--and your money to lose. Do you care?
Don't fruit trees, especially banana trees attract rats ?
Re Anon...Concerned about CB Financial Viabiliy....
Thank you for the insights you've stated. We care and hope every owner cares enough to study your warning thoroughly.
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