Hotwire Proposal Overview - Letter to Townhome Residents
Dear friends and neighbors,
As you may be aware, Mariner’s Cove Townhome BOD is considering entering into a bulk agreement with Hotwire Communications for internet, tv and phone service for the community. I know a lot of information and opinions have bounced around regarding the topic. I wanted to bring some clarity to you from my perspective as well as correcting some of the misinformation that has been floated around.
Let’s take a look at the facts of this issue:
First, your out-of-pocket costs will not go up they will go down. Based on my personal survey of townhome owners at Mariner’s Cove, we are paying individually between $150 in the very low end to $300+ in the high end for our individual internet and tv services with various service providers. I also hear much frustration with the quality of service we are individually receiving. I am one of the very unhappy and frustrated customers of my current provider. The proposed package will reduce the cost to about $80 per townhome.
Second, Townhome HOA dues are $285 per month, if you add the fees for your internet and tv service, you are currently paying between $435 and $585 combining your HOA dues and cable/tv service. With the package you will reduce that cost to about $365 total.
Third, let’s continue with the math theme. If an average unit saves $100 per month, savings are $1,200 per year, or $12,000 over a 10year period. What could you do with $12,000 savings? Maybe remodel a kitchen, remodel bathrooms, redo your patio space… Every unit can use a little facelift every now and then. By staying with our current situation, we are throwing those opportunities, along with that money, permanently away!!! Opportunity lost!!!
Fourth, this service is not being forced on anyone, you can continue to get your service from Comcast or the provider of your choice. However, if we only want individual choice, we are denying the rest of the community the opportunity to realize significant savings through a wholesale group purchase. This means every other home will have to spend the additional $100 to $200 plus dollars each month to satisfy an individual desire to have it only your way. I think a fair way is for those who want to continue with another service provider to pay the $80 for the wholesale package and then subscribe and pay whatever they want to pay for a different service.
Fifth, the 4% annual cost escalation per year only brings the cost to about $114 per month over the next 10 years. Still far below your current monthly payment.
Sixth, if you are concerned about the 10-year commitment, you can make it shorter. Obviously, the cost will be higher. If you finance a car for 5 years, or for three years, the cost will be amortized over a different period and obviously the shorter period will have a higher cost. As for Hotwire, you can pay for it for a shorter period and still have savings compared to what you are paying currently. For example, you could pay about $160 per month over a six-year period. If you did that, you would have covered the total cost of the 10-year contract. The bonus benefit would be free service for the remaining four years, or you could decide to go elsewhere.
Seventh, this technology is the best available today. Furthermore, Hotwire guarantees in writing that our internet speed will always stay significantly higher than that of the competing standard at any given time.
Eighth, offering community package for internet and tv services is the standard for most HOA communities. We are one of the few that does not take advantage of our bulk purchase power. It is time to change that and stop wasting our money unnecessarily.
Ninth, I have personally contacted 15 different communities that have contracts with Hotwire and every one of them had very good reviews of the quality of the product and the level of service they are getting from Hotwire.
Finally, I know change is never easy, but it is inevitable and constant. This proposed change, in my view, is clearly a better choice for the Mariner’s Cove Townhome community. The decision will be made by the elected Board of Directors, but obviously we want to do what is best for all of us and for the community. I ask for your support for this community improvement project that will benefit all of us.
Mariner’s Cove Townhome HOA
Resident Poll Regarding Townhome Hotwire Proposal
ResidentCentral has been contacted by multiple Mariner’s Cove homeowners to provide a poll to inform the Townhome Board of Directors of resident interest in a proposed contract for Hotwire to serve all Townhome units with fiber internet and TV for a mandated 10 year period – with HOA fees for such services starting at $78.95 not including taxes, fees or government impositions (based on the recommended package).
Please take a moment to provide your vote and comments on the proposal. Each registered user on ResidentCentral is allowed one vote. While non-Townhome residents can comment, only Townhome resident votes will be included in the poll.