EXECUTIVE SUMMARY


 

EAST BLUFF CONDOMINIUMS EXECUTIVE SUMMARY

 Printable Version: EXECUTIVE SUMMARY

 Updated 9/28/2017

This Executive Summary highlights some of the information prospective condominium buyers are most interested in learning, as well as some of the information that they should consider when contemplating the purchase of a condominium unit.

 

Condominium Name: East Bluff Homeowner’s Association Inc.

Mailing Address: 309 East Bluff. Madison, Wis. 53704

Phone: 608-249-7006

Email: east_bluff@yahoo.com

How is the association managed? Self-Managed.

  1. Year project originally built: 1970
  2. Total number of units in the entire project: 176

Number of completed units: 176

Number of sold units: 176

Number of owner occupied units: 122 (as of 9/28/2017)

Number of rented units: 44

Number of second home units: 10

  1. Does any single entity owner more than 10% of the total units? NO
  2. Are all the units and common areas complete and not subject to additional phasing? YES
  3. Does the project contain commercial space? NO
  4. Is the project an apartment to condominium conversion? NO
  5. Is the homeowners association currently a party to any litigation or lawsuit? NO
  6. Has control of the HOA been turned over to the unit purchasers? YES
  7. Are more than 15% of the condo fee payments two or more months delinquent? NO

10: What are the monthly fees for a 2 bedroom unit? $145.00 per month.

  1. What are the monthly fees for a 3 bedroom unit? $162.00 per month.
  2. Does East Bluff have the right of first refusal? NO
  3. Does the project contain any of the following?

Hotel/motel/resort activities, mandatory or voluntary rental-pooling arrangements, or other restrictions on the unit owner’s ability to occupy the unit? NO

Dead or resale restrictions? NO

Manufactured homes? NO

Mandatory fee-based membership for use of project amenities or services? NO

Non-incidental income from business operations? NO

Supportive or continuing care for seniors or for residents with disabilities? NO

  1. Is this association part of a Master or Umbrella association? NO

PARKING

What are the parking arrangements at this condominium? One (1) reserved outside assigned space is designated on condominium documents.

Is there a parking fee?: NO

Are parking spaces assigned to a unit by deed? NO: Parking lots are owned and managed by the Association.

Can parking spaces be transferred between unit owners? NO

What parking is available for visitors? Visitors stalls are available in all lots. Total of 96

What are the parking restrictions? One (1) stall is reserved and (1) visitors stall may be used by the owner of each unit. No more than 2 cars owned by the residents of any unit are allowed on East Bluff property.

For specific information about parking see: Mario Sanders

PETS

May I have any pets at this condominium? YES Dog & Cat

What are the restrictions and limitations on pets? No pet may leave the Unit unless leashed or carried. Also: See rules and regulations.

UNIT RENTAL

May I rent my unit? YES

What are the major restrictions and limitations on unit rentals? Tenants must adhere to the rules and regulations of the condo association at all times. The rules and regulations must be incorporated into any lease or rental agreement between owner and tenant. Unit

 

owner is responsible for fines incurred by tenant. A copy of current lease must be on file at the East Bluff office within 72 hours of occupation by renter.

Does this condominium have any special amenities and features? YES Playgrounds only.

What are my maintenance and repair responsibilities for my unit? See condominium documents

Who is responsible for maintaining; repairing and replacing the common elements and limited common elements? East Bluff Maintenance Staff

How are repairs and replacements of common elements funded? By Condo Fees

Does the condominium association maintain reserve funds for the repair and replacement of the common elements? YES

May I alter my unit? Yes Inside only. Door and window replacements are the responsibility of the owner and MUST HAVE PRIOR BOARD APPROVAL.

Can any of the condominium materials be amended in a way that might affect my rights and responsibilities? YES, Wisconsin law allows the unit owners to amend the condominium declaration, bylaws and other condominium documents if the required votes are obtained.

Whom should I contact for more information about the association?

Call our office @ 608-249-7006.

E-mail address: east_bluff@yahoo.com

Website: eastbluffhomeowers.com

Contact: Kris Krueger

Whom should I contact for Hazard Insurance?

o Schwarz Agency

o 1420 North Ridge Dr.

o Prairie Du Sac, Wisconsin 53578

o Mary Enwright 608-644-8579

o mary.enwright@schwarzins.com

o

Insurance Information & Financial Controls

Are units or common elements located in a flood zone? NO

Does the HOA maintain separate accounts for operating and reserve funds? YES

Are appropriate access controls in place for each account? YES

Does the bank send monthly bank statement directly to the HOA? YES

Are two members of the HOA board of directors required to sign any check written on the reserve account? NO Only the treasurer.

 

Who is the current Hazard/Liability/Fidelity carrier? Wilson Mutual Ins. 800-242-7708 Policy # 32.008770-70

Advertisements