Monday, August 08, 2011

Breakup Time

They say that the stress of a big home renovation can break up a marriage, and I will say that the process of a condo conversion, especially with a 6=unit building, does put a strain on the partners in a building. There are a lot of things to do, and inevitably one or two partners end up doing most of the work. Or maybe it is that even if everyone is doing some part of it, each individual starts to feel like he or she has taken on the lion's share. Someone must be home to let in the various inspectors and contractors. Someone has to make sure all the various contractors are paid in a timely fashion. Someone must organize getting the various papers notarized and walked around to different City departments. Someone must deal with documenting the building's finances, in preparation for forming a condo association. There is the title company stuff, the legal stuff... it seems like the list goes on and on.

Meanwhile, half the partners are starting to think about selling, once the conversion is done. After ten years, is it time to cash out?

Nerves start to fray. Disagreements start to happen. And yet the condo conversion deadlines keep rolling, and everyone struggles to stay polite enough to get through it all.


Post a Comment

<< Home