FOR IMMEDIATE RELEASE
CHICAGO, Ill. — Kent Dorfman, chairman and sole acting member of the 111 Rules Committee, today announced sweeping changes to the 111 East Chestnut Condominium Rules & Regulations.
- “All beer bottles on the pool deck must be transported there in an approved cooler;”
- “Boomboxes will be permitted on the West, North and pool decks but only between the hours of 10 am and 1 am;”
- “Dogs of any size are now encouraged to use the front entrance exclusively;”
- “Bicycles, roller blades and skate boards are now permitted on all decks and any common area.”
Also, as there are current plans to amend the By-Laws to ban smoking in units, the new rules include a provision to accommodate young smokers. Flavored cigarettes, bongs and hookah pipes will be permitted in the new and expanded Engineers’ Lounge located on the 9th floor.
Dorfman said: “Dorm life is all about FUN and lots of it. Sure your midday nap might be interrupted by a neighbor rolling a roommate down the hallway in a grocery cart, but that’s a small sacrifice to make. Where else can you play kickball in the hallway, or have a kegger on the 9th floor deck in downtown Chicago? This gives us a competitive edge.”
The new rules are effective immediately.
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Seriously folks… it’s not about the rules. It’s about what we’re secretively being led to cater to, and what that means long-term to all of us.
On January 7 of this year, our Board president Anthony Milazzo said, “We currently have 155 tenants out of 444 total units in our building. This represents a percentage of about 35%.” Regrettably, again he was being purposely misleading. The very comparison of tenants and units is apples and oranges. Our property manager subsequently told a homeowner that it’s more like 157 tenants renting/occupying conservatively 163 units (i.e. 38%). Other sources claim that even that significantly underestimates the actual.
Bottom line: Despite rentals in many ways being in conflict with the very concept of a common interest development, it’s all about balance. And when you’re outta balance, like porn, it’s hard to define but ya know it when you see it.
Here’s what we see:
- Resident owners are more likely to maintain common areas than tenants. Social scientists have found that tenements are tenements for a reason.
- Frequent move-ins and move-outs not only result in disruption, inconvenience and property damage, it also creates an overall transient atmosphere.
- Research by S. Barton and C. Silverman titled “Common Interest Homeowners’ Associations Management Study,” found that an increase in the percentage of rentals and the overall percentage of rentals in a condo association directly correlates with a higher number of rule violations. And that’s not only about ignorance of the Bylaws and Rules & Regs, it’s more a reflection of a total lack of commitment to the community. Fact is, fences make for good neighbors. When rules and regs are out of control, it ultimately pits resident against resident passively causing a distinct degradation in the overall quality of life.
- Invariably, property managers that see a higher incidence of rule violations by tenants also report a general overburdening of the Association recreational facilities. We are definitely seeing that. We see it at the pool; and it’s gotten worst year after year. We’re actually indulging it with an unnecessary $40,000 face lift for the workout room.
- That stress on common elements undoubtedly has an effect on the overall quality and appearance. Besides the added burden put on the Association’s repair and replacement resources, the overall deterioration results in decreased property values. We’re experiencing that, too.
- Also, lenders providing funds for buyers and for refinancing owners routinely require disclosure of the number of non-owner occupied residences as part of their underwriting procedures, and the tenant population in the development is used as a basis for determining whether such financing will be provided, the amount of the cash deposit required, and the cost of the funds.
- And insurance carriers for homeowner associations also require disclosure of the tenant population as part of their underwriting procedures, and charge higher premiums or refuse to provide coverage for the Association as the tenant population increases.
- Finally, restricting rentals in a common interest development increases the available stock of housing for resident owners. Homeowners in the housing market must compete with investors who are speculating on market conditions to increase their capital, and are not personally in need of housing.
It’s a vicious cycle. Again, the solution is about balance. The announcement was meant to be oddly humorous. The joke works only because it’s not far from the truth. Here again, the joke’s on you. Truth is, we are out of balance and that needs to be addressed.