Monde Condominiums (Great Gulf Homes) - Real Estate -

tripwire

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Is it possible for the developer to drag it out (the "small" cosmetic fixes) and essentially write it off as not-a-problem/not-going-to-fix? I've heard going through Tarion is a PITA in itself. :(
 

alenka

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My electric bill averages $400 a month for 6 months (Enercare + Hydro), and this is with air condition not working most of the time, and nobody living there for the summer. Just wanted to find out if anyone else experiences unusual problems with electric bills.
 

RZ12

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My electric bill averages $400 a month for 6 months (Enercare + Hydro), and this is with air condition not working most of the time, and nobody living there for the summer. Just wanted to find out if anyone else experiences unusual problems with electric bills.
Sounds similar to my situation I had with Carma billing at 88 Scott. I'm also in a new building with Enercare set-up for the first time and will receive first bill within 8 weeks. I'm curious what my hydro bill will be too.
 

BTB

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Wondering what the new Condo owners at Monde think about Great Gulf signing a 10 year contract with Beanfield charging each owner $60 per month in their maintenance regardless if they use the Beanfield service. Over 10 years at 500 owners amounts to approximately $3,600,000 to Beanfield whether their service is used or not. Were the owners best interest considered in this deal? Hmm...
 

TheKingEast

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Wondering what the new Condo owners at Monde think about Great Gulf signing a 10 year contract with Beanfield charging each owner $60 per month in their maintenance regardless if they use the Beanfield service. Over 10 years at 500 owners amounts to approximately $3,600,000 to Beanfield whether their service is used or not. Were the owners best interest considered in this deal? Hmm...
Is the price locked in for 10 years? If so..it's OK.
 

tripwire

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Wondering what the new Condo owners at Monde think about Great Gulf signing a 10 year contract with Beanfield charging each owner $60 per month in their maintenance regardless if they use the Beanfield service. Over 10 years at 500 owners amounts to approximately $3,600,000 to Beanfield whether their service is used or not. Were the owners best interest considered in this deal? Hmm...
Is that contract really binding for 10 years? I thought that after the developer relinquishes the building to the condo board, these contracts may not be applicable? I like Beanfield, but to bake in the cost into maintenance and force everyone to pay for it for 10 years seems pretty shady. I mean, will maintenance increases factor in this 60$ "hard cost"? Or am I overthinking this?

Even if it's locked in for 60$ / month for 10 years doesn't guarantee that the service you are getting will be any good years later.
 

enimsaj

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Does anyone know if there's going to be any projects coming up in the land exactly east of Monde? (where the sales office and parking lot are)
 

BTB

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Is that contract really binding for 10 years? I thought that after the developer relinquishes the building to the condo board, these contracts may not be applicable? I like Beanfield, but to bake in the cost into maintenance and force everyone to pay for it for 10 years seems pretty shady. I mean, will maintenance increases factor in this 60$ "hard cost"? Or am I overthinking this?

Even if it's locked in for 60$ / month for 10 years doesn't guarantee that the service you are getting will be any good years later.
They’ve reduced it to $50 per month but still locked in for 10 years. Waterfront Toronto negotiated this deal and thinks it a great deal - I say for whom certainly not for those forced into it - it’s not just Great Gulf Monde - all the Condos in East Bayfront: Tridel and Menkes. The issue really is Freedom of Choice and if one chooses another service should not be charged Beanfield for 10 years! I wonder who got paid what to get this done. Shady indeed...
 

thaivic

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They’ve reduced it to $50 per month but still locked in for 10 years. Waterfront Toronto negotiated this deal and thinks it a great deal - I say for whom certainly not for those forced into it - it’s not just Great Gulf Monde - all the Condos in East Bayfront: Tridel and Menkes. The issue really is Freedom of Choice and if one chooses another service should not be charged Beanfield for 10 years! I wonder who got paid what to get this done. Shady indeed...
From what I remember, Beanfield spent a ton of money building all of the infrastructure and that’s how they got the rights, remember 7 -8 years ago there was nothing out there except some warehouses.
 

BTB

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From what I remember, Beanfield spent a ton of money building all of the infrastructure and that’s how they got the rights, remember 7 -8 years ago there was nothing out there except some warehouses.
Thank you! You make a great point. But without seeing the actual financials (cannot find any details) and whether the other service providers were given an opportunity to participate, I still feel it’s unreasonable to lock In thousands of Condo owners for 10 years. Hey it’s done deal but it just doesn’t seem right - many people probably don’t realize that this is built in to their monthly maintenance.
 

newamsterdam

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Thank you! You make a great point. But without seeing the actual financials (cannot find any details) and whether the other service providers were given an opportunity to participate, I still feel it’s unreasonable to lock In thousands of Condo owners for 10 years. Hey it’s done deal but it just doesn’t seem right - many people probably don’t realize that this is built in to their monthly maintenance.
I live at Monde and I can only say great things about Beanfield. Hoping that continues until the contract runs its course.
 

tripwire

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I've had great experiences with Beanfield in the past, but I do think 10 years is a long time. It's tough though, if they did spend all the money to build the infrastructure I do think they deserve to be compensated. But a company can slide in 10 years...
 

WeirdFishes

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I've had great experiences with Beanfield in the past, but I do think 10 years is a long time. It's tough though, if they did spend all the money to build the infrastructure I do think they deserve to be compensated. But a company can slide in 10 years...
While I agree, 10 years feels aggressive, but I am sure there are stipulations in the contract about delivering a competitive product down the road, etc. Or at least I hope. It will be up to the purchasers to do their research and in the end, it's their responsibility as they're signing into this. Their lawyer could likely gain access to the contract to vet the longterm arrangement before locking themselves into the property and this arrangement.
 

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