Maggie Vanderwoude Sept. 6 / 07
3104 & 1109
Mrs. Vanderwoude
In the past year there have been a multitude of complaints and inquires to the Bahamian Authorities regarding Coral Beach policies as out lined in the Articles Of Association. These Articles are registered and recognized by the Bahamian Authorities as being the rules and regulations that all Owner must abide by at Coral Beach.
The numerous complaints, all of them frivolous have brought attention to Coral Beach and in turn to some individual Owners. It is imperative that Coral Beach as a Bahamian Company does not inadvertently through its owner’s contravene Bahamian law.
There has been a number of inquires to the Rental Approval Committee at Coral Beach in regards to your rental practices involving your two units. We are confident, considering the amount of time that you have been in the rental business that you have your affairs in order. However our records are incomplete regarding this matter.
At this point Coral Beach would require from you verification and an acknowledgement from the proper Bahamian Authorities that your rental business is registered and that your two units are registered as investment property, generating an income.
Please forward the requested information as soon as possible. Coral Beach does not want to be put in a situation where it would have to further address this matter.
Board of Directors – Coral Beach
5 comments:
Last year after the AGM the Board of Directors added (I call it a tarrif) to anyone who rents out their unit.
I am afraid that after this years election, if they win, we will either get hit with the 25% with no reduction if you pay upfront, or none of us will be allowed to rent at all.
I for one will have a couple of questions ready for the board memebers this year. My friend just sent me her proxy as she does not trust the system. (But I do not have a copy of her license, do I need it?
I would stongly recommend that a copy of the license or passport accompany every proxy. Also, the friend who is submitting the proxy should keep a copy of both for their own files as proof of your vote. This way it will be very difficult for the Board to pull the same kind of switching of names on proxies that they allegedly did last year. ( see previous post about last year's proxies that owners sent to the office).
There is a great deal at stake for the owners at Coral Beach. There is also a great deal at stake for the Board. If you want to maintain control of your investment at Coral Beach then for heaven's sake, fight, fight, fight for it.
Would you please let me know just how much renting you do in your units and is there any particular reason why other renters ( yes, I am one and will stay anonymous, thank you) have not had this problem?
In reply to the question about my renting. I rent 3104 out each year to one annual tenant/friend. Otherwise anyone occupying it is family or friends.
The unit 1109 has not been rented since last March......hardly what one could call a thriving rental business.
When I purchased the condo there was an application that had to be submitted and approved by the Board. I stated on the application that there would be renting, and the application was approved by the BOARD.
Why have we allowed renting to become such a dirty word? Many owners at Coral Beach started as renters. I know I did. Don't you think a buyer would rather 'try out the property' first then move on to purchasing??
Hi Anon Renter:
One simplistic answer and perhaps why you prefer anonymity, is that the reprisals have been against those who expressed dissenting views and/or oppose Mr. Rufa.
Ted Mulvihill
Apt. 3603
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