Mason on market
January 18, 2007
DeKALB | Sixty-five town homes may have a change in management, pending a DeKalb City Council vote Monday.
Landlord and developer Jim Mason recently put all Mason Townhouse Suites on sale as part of a plan to try and establish a homeowner’s association and bring in a property manager.
“[The homes are] built to a higher standard to most homes in DeKalb. The rent they pay is not enough to justify [the town homes]. The taxes are too high. Those are houses, not apartments,” Mason said.
Current renters living on Deerpath Lane off Annie Glidden Road are guaranteed their homes until the end of their contracts. When their contracts are up, renters can choose to renew their contracts, buy their town homes or find different living arrangements. Mason expects buyers to be professionals and students’ parents.
“We were going to stay, until we found out he’s selling [the town homes],” said Brent Delgado, graduate sports management student. “They’re raising the rent to $1,550, and that’s too much for a place out here.”
The proposed homeowner’s association would be made of elected town home residents and could take care of the homes’ outdoor appearance and enforce rules within the development.
For example, if a sink breaks, the property manager may be able to send a plumber, but the resident would pay for it.
“It’s like when you buy a car, you gotta take care of it,” Mason said. “Until I sign the last unit, I am the property manager.”
The association would determine the property manager’s salary through a monthly fee. Some new leases on the town homes have already been signed, Mason said.
Before Mason can sell any units, the homeowner association’s declaration and rules must be recorded, said DeKalb City Attorney Norma Guess.
“The places are nice,” said Ryan Saidat, sophomore chemical engineering major. “But I couldn’t imagine someone investing that money into a place that’s connected [to another unit].”
It could take three to four years to sell all 65 units, Mason said.
“There are no issues; it was textbook, and now we’re going through the final phase,” Mason said. “Once I get this done, I may build two or three hundred more.”