Smoke Alarms: Seven units to go to 100% compliance

To: Owners at 900 Marshy Cove,

Re: Smoke Detectors in Units

Effective January 1, 2018, Maryland Law requires all residential smoke detectors to be replaced every ten years and with “ten-year battery” units. Our building type and construction date require that they are to be replaced with hardwired, interconnected smoke alarms, Regular battery types do not comply with the Maryland State Law.

Compliance

In the condo association’s effort to achieve 100% compliance, we are asking all owners to upgrade your unit’s smoke alarms to the 2018 standard.  If you particip[ated in our upgrade program, no action is necessary. If you have upgraded your system independently, please contact Sentry or the board by email at mc900@comcast.net.

If no record of the upgrade is received by August 31, the board will take action to install the smoke alarms and assess the unit owner’s account for the materials and labor. This action is supported by the association’s bylaws.

Life Cycle of Smoke Alarms

Smoke alarms do not last forever and units that are 10 years old are near the end of their service life and must be replaced. Both hard-wired and battery-operated alarms are equally affected by age. Just like any electrical appliance, the circuitry and components of smoke alarms wear out over time. When a smoke alarm reaches 10 years of use, the potential of failing to detect a fire increases substantially and replacing units after 10 years

Replacement Program

The replacement of smoke detectors in units is the responsibility of each owner. Our smoke detectors are hard-wired and should be replaced by a certified electrician.  They cannot be replaced with non-hardwired smoke alarms. 

To expedite the replacement of unit smoke detectors, the 900 Marshy Cove Condo Association has organized a program with a professional electrician.  You can take advantage of the program by submitting the attached form (Smoke Alarm Form- click here) and returning it to the 900MC Condo Association in care of Sentry Management or depositing it the suggestion box in the lobby. You may, of course, hire your own service provider or contact Max Myers directly.  Let us know when the work is complete.

The estimated cost will be $265 for 4 ten-year hard-wired smoke detectors which include installation. All but, seven units are compliant,

Continued non-compliance puts us all at risk as well as affecting insurance coverage. Compliance is mandated by law.

Note: The smoke alarms inside our units are not connected to the fire evacuation alarm.

Questions:   mc900@comcast.net

Next Regular Meeting of the Board of Directors: 

Saturday,  September 8, 2018 , 10:00 AM

What do you think? DOGS

In the past months several residents, both owners and tenants, have suggested that we have a "no dogs" policy here at 900 Marshy Cove.  This would be a membership decision. Unit owners must vote on a rule change. Maryland State Condominium Law requires a 60% vote (29 owners) to carry an amendment to our by-laws.  If a rule were adopted, all current dogs would be grandfathered. 

Our pet policy has been to too difficult to enforce reliably and consistently. Many fail to register their pets despite penalties. Incidents have generated complaints with limited remedy.  Overweight dogs, aggressive behavior, barking, and the occasional accident, have upset non-dog owners and dog owners alike.  

Our exterior grounds have also been damaged with urine that burn-out patches of grass. Some dog owners fail to comply with the pick-up rule.

We live in close quarters so house rules are necessary to ensure the safety, and comfort of all residents. Pets provide companionship for many.  Sometimes issues like this need just to be addressed. Many condominium organizations like 900 Marshy Cove in Maryland have adopted "No Dog" policies.  

Before any formal action is taken, please express your opinion by sending an email to mc900@comcast.net

~YES,  I am in favor of a "No Dogs " amendment

~NO, The current "Pet Policy" is sufficient

~Need more information, Here's what I think!

It's time to break the silence. Your reply will be heard. 

This subject will be an agenda item at our 

Annual Meeting of Members on May 12, 2018.

Regards to all, 
George B, President, 
900 Marshy Cove Condominium Association

Photo taken from Generation III - Mike T. 

Condominium Financing- Freddie Mac.... at least 50% of the units in project are occupied as primary residences or second homes....

Freddie Mac on Condo Financing

Freddie Mac 's Requirements for Condos

http://www.freddiemac.com/learn/pdfs/uw/condo.pdf

....For all mortgages secured by a Condominium Unit in a Condominium Project, you must meet the requirements of Freddie Mac Single-Family Seller/Servicer Guide (Guide) Chapter 42, Special Requirements for Condominiums,........

(Page 3)

Definition of Established Condominium Project:

• Project and related facilities is complete and not subject to additional phasing, AND

• At least 90% of the total units are conveyed to unit purchasers other than the developer, AND

• Unit owners control the homeowners association

In addition to the project eligibility requirements in Guide Section 42.2, if the mortgage does not comply with the eligibility requirement for streamlined reviews in Guide Section 42.4, the mortgage must comply with the following requirements:

• All units, common elements and amenities are complete

• There are no manufactured homes in the project

• Owner-Occupancy Requirements:

- Primary residences and second homes: no owner-occupancy requirements

- Investment properties: at least 50% of the units in project are occupied as primary residences or second homes

Send your comments to mc900@comcast.net

Condominium Financing- Fannie Mae

Fannie Mae on Condo Financing

See Announcement 05-03

https://www.fanniemae.com/content/announcement/05-03.pdf

.........50% or greater must be primary or second home purchases.......

Comments? send them to mc900@comcast.net

Amendments Proposed to Manage Condo Rentals

The time has come .
In the next few weeks, owners (members) at 900 Marshy Cove will be receive proxies and ballots to approve two amendments to our by-laws. The amendments will be presented at the

"Annual Meeting of Members" 

May 14, 2016, at 10:00 AM. 

Included in this post is the cover letter explaining the proposed amendments.
____________________________________________________________________________

February 28, 2016

To:       900 Marshy Cove Unit Owners

Re:      900 Marshy Cove Condominium Association, Inc.

            By-law Amendments limiting the number of Rental Units.

Dear Unit Owner,

The 900 Marshy Cove Condominium Association’s Board of Directors Condominium is recommending the approval of the attached amendments to our governing by-laws. The first amendment (a) limits the number of rental units to twenty (20) of the 48 units. The second amendment (b) would limit an owner to no more than two (2) units. These amendments will require 67% or 33 affirmative votes each to win approval.

Why Rental Limitations?

·        The percentage of rental units affects financing options. Federally underwritten financing such as VA, FNMA, FDMA, and FHA require more restrictive terms on multi-unit condominium buildings where rental units exceed 50%.

·        Current Occupancy Status

o   Full time owner occupied:           13 units

o   Part time owner occupied:           20 units

o   Tenant occupied:                          15 units        

·        An increasing number of units are now occupied by tenants as opposed to owners.  As this transition occurs, it is in the best interest of resident owners, part-time resident owners, and landlord owners that we maintain a balance between these three categories.  Resale values of our units are affected by the residency of non-owners because of limited financing options and the perceptions held by prospective buyers.

·        Please note that similar restrictions have been successfully and widely instituted into the by-laws of other condominium associations in the State of Maryland.

To that effect, the attached amendment is submitted to association members for their consideration.  

If adopted, how will this work?

·         The Board of Directors will follow written procedures to review and approve rental permits.

·         Sentry Management will manage all documents and communication with owners regarding rental policy. Very little change is required when compared to the current practices for leases.

Policies and Procedures

·         All current rentals will continue until termination or renewal. Upon renewal or a new tenant agreement, rental status will not be affected provided all required forms and documents are filed with Sentry Management and approved by the Board of Directors.

·         Each landlord will be required to submit a rental permit application as current leases expire and new lease arrangements are signed.  A 90 day grace period will be granted to find new tenants if necessary.

·         New landlords must submit a rental permit request with signed lease agreements to secure rental status. A 90 day grace period will be granted to find new tenants if necessary.

·         Once the 20 unit limit is reached, a waiting list will determine which units will be acquire rental status.

What do you need to do?

·         Please read the attached amendment.

·         Check the appropriate boxes on the proxy/ballot then sign and date the document. Your name must be registered as the owner of the unit.

·         Mail the proxy/ballot in the enclosed addressed and stamped envelope before April 15, 2016.

·         Optional: Attend the Annual Meeting of Members on May 14, 2016.

·         Check the Marshy Cove Electronic Bulletin Board at http://www.900marshycove.blogspot.com  for updates.

·         Contact Sentry Management for more details or contact a Board of Directors member with your questions.

Sentry Management Inc       cambridge@sentrymgt.com

601 Locust St Ste 302

Cambridge MD  21613

(410) 221-0398; (410) 221-9977 (fax)

________________________________________________________________

Questions? Comments? 

Send them to mc900@comcast.net

900 Marshy Cove Board of Directors Meeting, Rental Units

The Board has approved a motion to seek amendment to the 

900 Marshy Cove Condominium Association By-laws.  

Below are the By-law changes which would place limitations on the number units that can be rented at twenty (20) and limitations on the number of units one party may own at two (2).

These amendments will require 67% or 33 affirmative votes from the 48 unit owners to win approval.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Article X, Section 2 is amended by adding the following Subsections (a) and (b) to the end of Article X, Section 2:

ARTICLE X: USE RESTRICTIONS

Section 2. Leasing.

"(a) The maximum number of rental units within the Condominium may not exceed twenty (20) units. In order to confirm that the maximum allowable rental units within the Condominium has not been exceeded, all lease agreements must be submitted to the Board of Directors prior to execution by the Unit Owner. Notwithstanding the above, any lease or sublease or tenancy arrangement in existence on the date of this Amendment to the By-Laws is recorded may continue until its expiration or the Unit is sold, whichever comes first."

"(b) A Single Entity may own no more than two (2) units within the Condominium. A Single Entity shall be defined to include, but shall not be limited to, an individual, an investor group, partnership, corporation, or LLC."

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Why Rental Limitations?

·        The percentage of rental units affects financing options. Federally underwritten financing such as VA, FNMA, FDMA, and FHA require more restrictive terms on multi-unit condominium buildings where rental units exceed 50%.

·        Current Occupancy Status

o   Full time owner occupied:           13 units

o   Part time owner occupied:          20 units

o   Tenant occupied:                         15 units        

·        An increasing number of units are now occupied by tenants as opposed to owners.  As this transition occurs, it is in the best interest of resident owners, part-time resident owners, and landlord owners that we maintain a balance between these three categories.  Resale values of our units are affected by the residency of non-owners because of limited financing options and the perceptions held by prospective buyers.

·        Please note that similar restrictions have been successfully and widely instituted into the by-laws of other condominium associations in the State of Maryland. Maryland Condominium Law permits such restrictions.

Association members/owners will receive a ballot seeking their approval.  Hopefully, all proceedings will be completed before the Annual Meeting of Members scheduled for May 14, 2016.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Questions? Comments? Send them to mc900@comcast.net

More to come on this subject over the next few weeks.