12/17/2012

Board of Directors Meeting 11-20-2012

BOARD OF DIRECTORS MEETING

11/20/2012

MANAGER’S REPORT

 

The entire staff has been taking advantage of the slower season since we last met.  We have had numerous projects going all at the same time.

Florentin and Milo have replaced all the deck supports that were damaged from either termites or weather, replaced the top railings on the pool fence, replaced the wood surrounding the islands in the parking lot and added new pea rock, trimmed all trees and mangroves, and have touched up paint where needed.  Behind the B Building, I had them remove any fence poles (hasn’t had fence for some years) and spruce up the appearance by adding pea rock behind the units.  There have been repairs made to the fences and to the plywood behind the Jacuzzis at the C Building.  Of course time has been spent repairing the damages done to the property as a result of Hurricane Isaac and Tropical Storm Sandy.

As reported last meeting, Abby has made new Owner files, replacing the old ones which were falling apart, yellowed with age and smoke.  She has now also made new cards for all owners where we keep owner information and as a backup, write all reservations. 

Bernadette has been organizing and constantly busy with reservations, collecting and depositing fees. 

I have been taking the time to plan what we need to accomplish through the end of the year.  I have been researching everything from security lights to office flooring, and also better quality products for less money.  After having another dock piling hit by lighting, I have been trying to obtain estimates and bids for dock repairs or replacement.   

November 1st was “a date that will live in infamy”!  Starting at 8 A.M., Abby, Bernadette, and I, were on all three phones and 3 computers for 5 straight hours taking payments and making 2014 reservations.  Bernadette and I ate lunch at 2:30 P.M.  But being the women we are, we also had some fun!

We have notification the new furniture will be delivered and set in place within the first few weeks of January.  We have just received Silver Status with RCI and we are hoping the new furniture will push us to Gold Status.  We are only a few tenths of a point from this Gold Status in 2 areas….unit maintenance (many mention lack of furniture and art) and in Resort maintenance (which we are improving daily.)

Previous years we have received an 11% rebate on our Flood Insurance.  This amounts to approximately $950.00 each year.  This rebate was generated by our Agent “giving” it up from his profit.  Due to changes in Florida Flood Insurance changes, Agents are no longer allowed to give their rebate.

FORECLOSURES:

We currently have 25 owners in the foreclosure pipeline.  These were placed with Atty. Russ Cullen.  Seven will go to Auction on December 12th leaving us 18 and I am pushing Cullen to have completed no later than the first part of 2014.

As of December 12th Auction we will have 7- two bedroom units, 4 – 3 bedroom units, and 2 – C units, for sale.

I suggest as of April 1, 2013, we increase the price of 2 bedroom units to $500.  I believe we can use this as a tool to go ahead and sell the available units before this takes effect.

The collection policy continues to be adhered to and is successful.

Bernadette has had the office opened from 10 A.M. until 2 P.M. every Sunday.  Though we did not think this would be useful and we would be reporting to you it was a waste of time, it has proved us wrong and owners and guests are taking advantage of this service. 

After moving through the busy Thanksgiving and Christmas holidays, we will be preparing for the yearly Audit.  Mike Geisler has resigned from Kantor and Geisler

 
Visit Florida Key Largo Chamber of Commerce RCI Timeshares Key Largo Realty View Availability Sign Up For Email Alerts