Dear Readers,
HEADLINE - HOW MUCH ARE THE DEDUCTIBLES???
By now, most of you have received some kind of letter giving
you an idea of how much you will receive from the insurance
company for your unit damages.... well, except for the flood
victims in the rear courtyard who are still waiting for the
Board and NON-Manager to tell them in writing about the
"MISSING $100,000.00" from their settlement amounts.
Since most of these letters included a reference to you
having to pay your portion of the deductible, I thought I
would do some research on this matter.
According to the July 2005 Management Report, the deductible
was only $5,000.00 for the front courtyard damages from
Hurricane Cindy. Other sources have told me that Chet
Hingle negotiated a higher deductible in order to save
$700.00 a month on the insurance premiums. Unfortunately,
the deductible may now be $25,000.00.... BUT since the
Association has been building up the slush fund by nearly
$2,000.00 a month and had over $29,000.00 in the slush fund
as of August 2005 (called the "Metairie Bank Replacement
Account" in the Management Report, copy attached), it would
seem that, at the least, the $700.00 per month saved on the
premiums should at least be applied to the deductible
instead of taking it ALL out of your insurance money. You
paid this extra $2,000.00 a month with your condo dues but I
doubt that the Board and NON-Manager will want to part with
any of this money since they are trying to build up the
community slush fund even more out of the victims settlement
money. Even if they refuse to pay part of the deductible,
the deductible would amount to around $500.00 each if the
deductible is for both courtyards or $1,000.00 each if the
deductible is for each courtyard. As long as you get ALL OF
YOUR MONEY, this amount should be negligible.
As long as the Board and NON-Manager give you everything
that you are legally entitled to, you should still have
enough money to pay your contractor for doing everything or
if you do some or all of your repairs yourself, you should
have thousands of dollars left over for other needed
improvements on your unit. Remember, the insurance
settlements are YOUR MONEY.... DO NOT LET THE BOARD OR
NON-MANAGER CONFISCATE YOUR MONEY FROM YOU!!!! STAND UP
FOR YOUR LEGAL RIGHTS TO YOUR MONEY!!!!
If the Board or NON-Manager wants to build up the community
slush fund, they should do it by a special assessment on ALL
OF THE OWNERS... NOT JUST ON THE BACKS AND SHOULDERS, AND
OUT OF THE POCKETS OF THE HURRICANE VICTIMS. Why should the
victims have some of their insurance settlements confiscated
while the entire community benefits from this confiscated
money?
EDITORIAL REPLY-
I have not received a reply from the NON-Manager or any of
the Board Members in quite a while so it seems they have
clamed up on answering the questions raised in "The Fountain
of Information". That's too bad... NO, IT'S A DOWNRIGHT
SHAME, as this newsletter is the main source of
communications to most of the victims who are not able to
live in their units right now... and we all know the Board
and NON-Manager aren't putting out very much information on
their end. There are nearly 40 unit owners/tenants
subscribed to the newsletter at this time and I also provide
hard copies to any owner or tenant who requests a copy. If
you want any or all of the back issues, please reply to this
email with your request and I will promptly forward them to
you. Also, feel free to forward a copy of this newsletter
to your neighbors and to your attorney so they will have
"The Fountain of Information" first hand!
Thank you for taking the time to read the newsletter and
until next time, let "The Fountain of Information" flow.
Lenny Vasbinder, Editor
"The Fountain of Information"
Brought to you in part by:
http://www.NeighborhoodHomeServices.com
Hurricane Damage Cleanup, Sheetrock & Flooring Removal,
Homeowner's Contractors Agent (HCA), Handyman, etc.
http://lennyvasbinder.blogspot.com
504-621-1870 eFax - 413-318-0742
NHSNOLA@Gmail.com LNVTM1@Gmail.com
ADVERTISEMENT-
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or any of your neighbors, friends or family needs their
homes gutted, damaged furniture removed or any other
hurricane clean-up, please notify me ASAP so I can schedule
them for an estimate and clean-up date. I am still working
on putting together a team of repair personnel so that I can
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Thank You,
Lenny Vasbinder
Neighborhood Home Services
http://www.NeighborhoodHomeServices.com
504-621-1870
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