The views of the downtown core, plus the picturesque view of the escarpment above Bridgeland are what sold Mike on his approximately 800 square foot, south-facing two bedroom unit.  “When I wake up in the morning and see the view, I realize why I am paying the mortgage! And the reflection of the morning sun in the buildings downtown is fantastic!” he adds. “I picked this place because no one could build behind it blocking the view of the city.”  He laughs:  “It took forever to get curtains because of the view.  I wanted to look outside all the time!”

“I had been watching the building since it went condo.” Mike bought his fourth floor unit in October 2004 to “get into the market.”    Other condos in the area cost more and when he saw what was offered at The Bellavista, he decided to take the plunge.   “I lived two blocks away and saw prices going up and decided to jump in!” he explains.

He says he “waited a long time to settle down” after enjoying the freedom of moving back and forth between the coast and interior of British Columbia before returning to Calgary.

Mike is a native Calgarian with proud roots extending to the arrival of the railway.  He is one of the many great-grandsons of James McKevitt, a Calgary pioneer who has a major road named after him in the south part of Calgary.  Mike is involved with the Old St. Patrick’s Preservation Society, recently created to protect and restore the historic church in Midnapore, where his great-grandparents are buried.

Built in 1978 as an apartment building, The Bellavista turned condo in 2000.   It is four stories, contains eleven suites and is self managed.  The condo fees are just over $200 a month.  Within a few months of taking possession of his unit, Mike was the president of the building’s condo board.  “They had to find someone to do the job!”  He is referred to by his fellow board members as “El Presidente”, he chuckles.

“When we are this size of building – one of the former executives says it’s like living in a big house – it’s like a co-op because when you administer and manage, you can’t have an impersonal relationship.  We develop a mandate and go for a consensus.  It’s friendlier.  We ask for input throughout the year.  We share duties.  The formal rules are followed during meetings, but we also sit and chat and if majority rules, we go with it.  It’s like a jury with a lot of discussion.

“We have two meetings a year:  the General Meeting and then a summer meeting.  At the General Meeting,” Mike explains, “we discuss the necessities of the Condo Act, the Financial Report, elect officers, go over capital improvements and review by-laws.

“I talk to people everyday when I come home.  Issues come up.  We deal with them.  People work different shifts and someone is around all the time.  We do not have a property management company.  We are the property management.”  But on that note, he mentions a vacuuming service is hired to clean the common areas, including hallways, once a week.  “We divvy up tasks”:  one owner mows the common area grass, other people advise in the financial running of the condo, yet other owners have experience with renovations.  “At the summer meeting, we discuss rules and issues, for example: noise and other infractions.   We voice concerns and reinforce what kind of place we want our building to be.”

There is a coin-operated laundry in the basement of the building, even though a number of owners have their own washer/dryers in their suites.  About half of the owners still use the laundry downstairs for larger loads.  There had been a problem with the company supplying the washer and dryer.  They didn’t want the condo owners having their own washer and dryer in their units as it would cut into their revenue, Mike explains.  The Condo Board talked and decided to take it upon themselves.

They bought the “Cadillac” of washers and dryers at a cost of $4000.  Taking in revenue of $250 per month, which adds to the cash flow, the washer and dryer will pay for themselves in eight more months, according to Mike.
“We want to maintain our building as efficiently as possible and want to be ahead of our reserve study.  Our plan is to tackle mechanical issues, heating, including water.”  Some of their savings are earmarked for a new boiler or roof.  There are future plans for sprucing up the building’s cedar and brick façade, balconies, doors and windows.  “And it’s not just thinking ‘how much for a new furnace’ – we look at the alternatives.  We now have a timer on the furnace to reduce costs of heating during certain times of the night.  They are baby steps to get more bang for your buck!”

Mike has advice for smaller condo buildings:  “Look at the resources available within your group of people before deciding to go it alone versus going with a management company.  We saved a fortune.  Have an informal get-together to see what talents are available.”  With no money spent on management fees, approximately $2400 per month collected via the condo fees and money generated by the revenue from the coin operated laundry, “we want to build a larger reserve fund, so that our mandate in five years could be to possibly reduce the condo fees,” something that is unheard of in today’s condo market.  “You hear horror stories of cash calls in other condos.  We have to manage our money well, as well as our expenditures.”

The Bellavista is a condo with a property management view worth looking into!    CL