Schooner Bay
Condominium Association
5002 Gallows Bay, St. Croix VI
00820
340-778-7670 (Office)
340-643-3119 (General Manager Cell)
340-643-3116 (Business Manager Cell)
Property
Manager - Jonathan Babin
schoonerbaymanager2017@gmail.com
Business Manager - Dawn Bates
schoonerbaybilling@gmail.com
Board President - Michael Messerschmidt
Board@SchoonerBayCondos.com
Schooner Bay is a 62-unit luxury condominium complex overlooking picturesque Christiansted Harbor, in the popular Gallows Bay area of St. Croix, USVI.
Schooner Bay is convenient to shopping, banking, restaurants, historical
sites, beaches, golf and tennis.
The property was developed between 1987-1989 and is routinely maintained
and updated.
Because of its convenient location, large units, great views, strong financials and solid management, the property is perceived as desirable in the real estate market and property values have been stable in recent years.
Common area amenities include two swimming pools, tot pool, tennis court, digital cable television and internet service. Common area fees include, but are not limited to, night security, backup power system, trash removal, monthly unit pest control and a full-time, on-site staff and landscaper.
CLICK HERE for the operating budget.
Comparing these costs to single family home ownership, condominium ownership has many financial and other intangible benefits.
More About Schooner Bay Condominium Ownership
Management – Full-time, on-site property and maintenance management
is provided and is a particular benefit both for resident owners who tend to
travel frequently as well as off-island owners. Our on-site maintenance management
allows for basic interior unit repairs, including electrical and plumbing, to
be completed at reasonable billing rates rather than hiring an outside contractor
if the owner so chooses.
Renting Owners – Schooner Bay’s full-time, on-site property and maintenance
management does not include managing rentals. Renting the unit oneself or selecting
a local real estate agent will be necessary if the owner chooses to rent their
unit.
Utilities – The
local utility company provides potable water at the entrance of the property
and Schooner Bay is responsible for distribution to the units. Individual unit water
usage is billed to owners monthly. Electricity is provided directly by the
local utility company.
Back-Up
Power – Schooner Bay has invested in a property-wide back-up power system
and provides back-up power to all units in the event of power outages. Routine
generator maintenance and fueling as well as short-term power outages are
included in the common area fees while prolonged storm related outages are
billed by individual unit usage.
Property Insurance – Schooner
Bay is fully insured, making conventional financing easier to obtain. The
property is insured at full replacement cost less a 3% windstorm damage
deductible. A replacement cost appraisal is completed each year to assure proper
coverage. Required levels of liability, theft and other coverages are also
provided. While the cost of this coverage may seem high, it is comparable to
other windstorm prone areas. This coverage gives owners the peace of mind that they
are protected from natural disasters such as hurricanes and allows owners to
sell their property in compliance with most bank and government mortgage agency
requirements.
CLICK HERE for the insurance certificates.
In addition to the property insurance policy which insures the common areas of
the property, Schooner Bay STRONGLY recommends owners obtain an individual
condominium owner’s policy which provides protection from individual loss. Appropriate
levels of liability, contents, loss of use, loss assessment and building
coverage (if the unit interior has had significant improvements) should be
strongly considered by owners.
Capital Repairs – In lieu of
special assessments for major repairs, Schooner Bay established a restricted
capital repairs fund for major repair expenses such as roof repairs and
coating, major building repairs and painting, major roadway repairs and major
amenity repairs. Due to thorough planning and budgeting of capital expenses,
Schooner Bay has not had to impose a special assessment in over 15 years.
CLICK HERE for the capital repair budget.
Property Taxes – Because
Schooner Bay is a condominium, owned in common by all unit owners, each owner
will receive an annual property tax bill for their individual unit from the Virgin
Islands government. Virgin Islands property taxes, ranging from $300 to $800
dollars per year, are typically considered low compared to stateside rates.
Summary – Whether planning on being a permanent, seasonal, or periodic St. Croix resident, Schooner Bay ownership can be an excellent choice. The combination of large spacious unit, convenient location, full-time, on-site property and maintenance management and efficient cost management, together with property insurance and low property taxes make Schooner Bay a desirable community for many owners.