The property underwent a 3 million dollar renovation in 2009 which included new siding, roofs, windows, and several other needed repairs. The Board of Directors is committed to keeping Loma Vista West Townhouses a shining beacon in the greater community by addressing infrastructure needs as they arise and by looking for creative ways to continue the legacy of fine living at affordable prices.
Why Choose Us?
We offer many ways to get involved in the betterment of the community. As a member, you are invited to serve on one of the many committees designed to empower the membership to plan events, review finances, collate and distribute the newsletter, or ensure the quality of our buildings and grounds.
Members are encouraged to attend cultural fairs, pancakes breakfasts, and other events intended to create community.
A housing cooperative is a corporation owned and governed by the people who live there. When you move in to a cooperative, you become a member of a community and a shareholder in a corporation. Each member of Loma Vista West Townhouses has an equal vote in the cooperative corporation, which holds title to the property. A Board of Directors is elected by the members of the cooperative. The Board establishes standards to keep the community a pleasant place to live, and sets down those standards in the Rules & Regulations document.
Membership is similar to renting in terms of convenience. You make one payment a month without worrying about insurance, taxes, mortgage payments or maintenance.
t’s like owning a house in many ways. You can deduct from your federal income tax return that portion of your monthly charges that go toward real estate taxes and mortgage interest. What you are able to deduct will depend on your tax situation.
It differs from owning your house in that you are not personally liable for the mortgage and that you do not take care of the maintenance. The Board of Directors sets maintenance standards and retains a professional management firm to supervise the staff. Except for interior redecorating, your home is maintained for you. Complete exterior care includes structural repairs, lawn and shrubbery care, snow and trash removal, and outside painting. Major interior repairs include routine handyman work, maintenance or replacement of plumbing and electrical systems, appliances and any damage not caused by your negligence.