We wanted to provide you some interesting information on our Condominium Community that isn’t very well known and which might be helpful in buying a Villa at Greate Bay.
You may not be aware, but the Greate Bay Villas Association has not had an increase in our Owners Monthly Maintenance in the past 11 years.
You should also know that we have not had any special assessments in that same period.
This is important for potential homeowners to know, since while the other condominium communities in this general area state their monthly rate to the homeowner is slightly lower than ours, they neglect to figure-in to that the assessments they have imposed to regularly maintain their communities. And many have had assessments each year…….not Greate Bay!
You might say……..”How can you make these claims and what substantiation do you have in making them?” Well, the answer is as follows: The Greate Bay Board of Directors has over the last decade adhered to a rigorous program in managing maintenance, expenses and contributions to our Reserve Program. Consider this……….In addition to our list of regular monthly recurring expenses, we have a complete inventory of every potential and imaginable recurring capital expense that we monitor constantly so that upkeep of major buildings, streets, operating facilities and beautification programs are tightly monitored and cared for as can be seen by walking and driving around the community. We also adhere to a constantly monitored regular maintenance and capital improvement program. And finally, we make substantial contributions to our Reserve Allocation Program every year with no exceptions.
Our Reserve Program is not like other Communities where every 5 years or so, they have a consultant come in who is not really knowledgeable about the intricacies of the community and presents them with a boiler-plate plan and then it’s put in a drawer for five years. We do our Reserve Program every year so it’s a living plan and all board members are constantly and intimately involved in the allocation for future projects and expenses. The plan is updated every year and the prior year is audited to ensure that nothing is missed or discounted. If you are interested, we can discuss this with you in more detail. Realtors should take note of this when counselling potential clients.
A note about the beauty of our community……………we are a 5 minute drive from the Ocean and just a walk from the Bay and being on the Greate Bay Golf Course magnifies the picture. By the way, buying at Greate Bay Villas comes with a Free Social Membership in the Great Bay Country Club for one year.
We hope this enlightens you and aids you in your purchase of a condo in our community. If you or your realtor would like to meet or walk around the properties with us to gain insight into the strength of the above information, please don’t hesitate to contact us.
This website is the property of the Greate Bay Villas Condominium Association and is provided solely for the public who might be interested in information about Greate Bay Villas Condominiums and the Greate Bay Condominium Association. This website makes no claims other than general characteristics about the community, its buildings, condominium space and general operational characteristics of the Greate bay Villas Condominium community. All information herein is presumed to be true and accurate and is offered as a self helping mechanism for the convenience of the general public for their enlightenment. Greate Bay Villas Condominium Association is a Non-Profit Corporation under the Laws of the State of New Jersey, any information regarding rules and regulations of the Association may be found in the “By Laws” and “Master Deed” of the Association on file publicly with New Jersey. Greate Bay Villas Condominium Association is not in the real estate business and this site implies no offers for sale or lease of any kind whatsoever. The information on this website from time to time may be less than totally current in content or accuracy. Greate Bay Villas Condominium Association makes no claims as to the accuracy and completeness of the information on this website and is not responsible for reliance thereon.