Friday Night Social Event
Residents and owners are invited to gather in the main lobby this Friday at 6:00 PM for an informal happy hour. Feel free to bring your favorite beverage and, if you wish, a snack to share.
We hope this will be a wonderful opportunity for neighbors to connect, enjoy good conversation, and spend time together as a community. We look forward to seeing everyone there.
SKC Manager Change and RPM
The Board has been dissatisfied with certain aspects of RPM’s performance and felt that Sand Key Club would benefit from a more experienced on-site manager. To evaluate our options, we obtained proposals from three management companies and carefully reviewed each one.
While we were very impressed with one of the alternatives, the cost would have been approximately double our current management expenses. As a result, the Board decided to work with RPM to address our concerns rather than pursue a change in management companies at this time.
We informed RPM that significant improvements were needed and developed a detailed spreadsheet outlining multiple action items requiring attention. RPM has responded positively and is actively working with our new manager to address these matters and improve overall operations.
Christy did an excellent job in many areas during her time at Sand Key Club, and we appreciate her efforts and dedication. However, the Board felt that the community would benefit from the additional experience and expertise that Ron brings to the position, particularly given the complexity of the projects and challenges currently facing the Association.
We look forward to working with RPM and Ron as we continue improving operations and moving important projects forward for the benefit of the community.
Parking Garage
Work continues on the concrete repairs in the parking garage, and electrical and plumbing lines are being installed for the plaza deck project. At some point, work areas will need to be shifted, so if you are not on-site, please ensure management has access to your vehicle keys or that someone is available to move your vehicle if necessary.
Plaza Deck
PT cable repairs will be starting shortly after the Board successfully negotiated the repair cost down from approximately $860,000 to $260,000.
To ensure we were receiving competitive pricing, our engineer obtained a second proposal from another contractor. Their quote came in at approximately $230,000; however, utilizing that contractor would have required an additional management fee of approximately $60,000 to Valcourt for overseeing the work as a subcontractor.
After presenting this information to Valcourt, they advised that an error had been made in their original pricing and revised their proposal to $260,000. Combined with the savings achieved on the electrical work last month, the Board has helped save the Association and its owners more than $728,000.
The good news is that these repairs will allow the plaza deck project to move forward without the need for extensive trenching to replace PT cables. Instead, the repairs will be completed using carbon fiber reinforcement, which is both stronger and faster to install.
Pool
Pool repairs continue to progress. The rebar around the top perimeter of the pool is currently being sandblasted and coated. The pool contractor has installed new piping around the perimeter of the pool and Valcourt will continue with the concrete and rebar restoration work.
Attendant Third Shift
Please be advised that the Board has voted to eliminate the 11pm to 7am attendant shift on or before June 30.
As a result, building entrance doors will remain locked during overnight hours. Please remember to always carry your key fobs with you.
In emergencies, the call box may be used to gain access between the hours of 11:00 PM and 7:00 AM. An emergency RPM contact number will also be posted on the call boxes.
The cost savings from eliminating the overnight shift will help offset the expense of the new on-site manager, with a significant portion of the remaining savings being available to address other building needs and priorities.
Real Estate Update
Another unit was sold last week, bringing the total number of unit sales this year to four. Each transaction involved different real estate agents, and several of these sales included mortgage financing.
The ability to obtain financing opens condominium sales to a much larger pool of qualified buyers. Restricting sales to cash-only purchasers can significantly reduce the number of potential buyers and may negatively impact marketability.
This most recent sale was handled by a realtor who was relatively new to Sand Key Club and, like many agents who work within our community, went above and beyond to help bring a complex transaction to a successful closing.
Please remember that Sand Key Club does not endorse, recommend, or maintain a preferred list of realtors. Owners considering the sale of their units should conduct their own due diligence when selecting a real estate professional and carefully review all listing agreements and related documents before signing.
As with any important business decision, owners are encouraged to evaluate qualifications, references, marketing strategies, and proposed terms to ensure they choose the professional who best meets their individual needs.
Rental Reminders
If you are planning to rent your unit, please note that rental applications cannot be approved until all required background checks have been completed. To avoid delays, owners and prospective tenants should allow up to 15 days for processing and approval.
Thank you,
Gary Howard
On behalf of the Sand Key Club Board of Directors