New Fees: Financial Year 06/07 - 05 / 08

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Delilah
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New Fees: Financial Year 06/07 - 05 / 08

Postby Delilah » Mon Aug 20, 2007 9:38 am

Hi all - we have recd invoice and I have a few queries for Adrian who is on leave 2day anyone else have any thoughts ??????

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Postby Lorraine06 » Mon Aug 20, 2007 10:02 am

Hi All, we received our invoice on Friday and think the increase is absolutely ridiculous. Ours is €800 for a three bed house. The letter from KPM states that the increase is due to the fact that second phases are not completed yet and that next year the fees will be much lower. There will be another excuse next year as to why the fees have not decreased. Should it not be up to the builder to pay fees in relation to incomplete units.

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Postby gqma0 » Mon Aug 20, 2007 10:18 am

Ours is around €1079 for a 3 bed townhouse type K. This is apparently considered a duplex which I'm arguing.

Can you post where you live in ? Appt, townhouse, house ?

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Postby juju » Mon Aug 20, 2007 10:21 am

3 bed t/house St Sam crt =
This year :770 (approx)
Last year :581

Are we entitled to view the full accounts of the man company?

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Postby Delilah » Mon Aug 20, 2007 11:12 am

Hi JuJu I am in the same boat as you 3 bed House the Sq. I also do not understand the part about Castlemoyne, they are saying that because the units are not complete our charges are higher, I guess thats mean they have included services for non existence houses in the budget???? They only way I can figure this out! We should we have to pay for this it is also ' out of our control'!!!!!!. In addition to this I beleive they have calculated our credit incorrectly! AND I note their fees are €45kpa!!!Does anyone know if the res comm have had a meeting about this budget??

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Postby Shee » Mon Aug 20, 2007 1:12 pm

Hi,

I've just gone through the website and came across the figures from last year, i've tried to put in the comparison based on figures given

2006 ( 2007 )
Castlemoyne Houses - 288.00
3 bed t/house st sam court - 581.00
3 bed t/house st sam sq - 581.00 ( 770)
2 bed apartments 1200.00
3 bed apartments 1370.00
2 bed duplex 846.00
3 bed duplex 905.00 ( 1052 )
4 bed duplex 962.00
J type 905.00 ( 1052)

Also i noted that there was no breakdown of the percentage we are each paying towards the running of the estate as the apts etc have an extra budget that the houses are duplexs should not be included in and finally they didn't include a copy of last years accounts and expenditure so we can see what they spent the money on last year. I've emailed Adrian for a copy of same so we'll see what comes back.
his reply is automatic
I will be out of the office this from 12 noon (17/08/07) returning Tuesday at 9AM. Should you have any very urgent matters you can contact KPM directly on 01-8442400 or the 24 hour emergency number 0863882467

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Postby Shee » Tue Aug 21, 2007 10:29 pm

This is the reply that I got from Adrian,

I have the two spreadsheets separate, if you want me to forward them, just pm me.

Hello Sheelagh,

Please find attached the two spreadsheet's with regards to the service charges. We had a meeting a number of months ago and are scheduled to meet again over the next number of weeks (I will forward the date)

With regards to the service charges the percentage breakdown in the lease is different this year due to the number of houses in Castlemoyne not completed. This is unfortunate and something I don't like doing, however it is in the best interest of the development. If any homeowners do come back and state that the percentage is agreed in the lease, point J (iii) states "that the developer or Mgt Company from time to time may adjust on the basis on which the service charges is calculated in the interests of good estate management"

If you have any questions, please do not hesitate to contact me and sorry once again that your name was not on my list.

Regards
Adrian

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Postby Shane » Wed Aug 22, 2007 8:16 am

I was talking at Adrian yesterday about most of the previous points and he explained it to me as follows:

- basically the budget for the forthcoming year is assessed based on the previous year and the expectations for the forthcoming year and then divided amoung the various houses/apts. As the second phase of castlemoyne won't be completely occupied this year then obviously there won't be anyone to pay a management fee in these houses.

Adrian said that the figures were reduced based on these houses not being included but in all likelihood our charges are slightly higher as there are less people to share the overall cost with. I dont know what the castlemoyne charges are this year but if they are around 400 then an extra 96 houses would contribute an extra 38400 to the budget.

- In relation to the previous years accounts Adrian has said that they have been sent to be audited which will take a few weeks after which notice will be given of an AGM and we will be able to review and discuss the previous budget and any other issues that we have in relation to the company. Just as an aside the AGM is an important event for us in that the directors of the company will be present and can be re-elected or replaced etc and it is the directors of the company that have direct control over the managing agents etc.

- Adrian also said that the residents committee had a meeting regarding the budget some time ago but i wasn't there so maybe someone that was could enlighten us?

But in the end there isn't really anything that anyone can do to alter the charges for this year, the agents are employed by the company to manage the estate (and make sure there are enough funds) and the directors are the representatives of the company. I'm not sure though if the directors have to approve the budget for the coming year, I'd imagine someone has to though.

I'm very interested to see the accounts for the previous year though and at least that should be soon.

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Postby Delilah » Wed Aug 22, 2007 8:35 am

I must be stupid... I really dont understand how unoccupied houses in CastleMoyne are costing us money???? I have now left 2 VMs a message and email for Adrian.

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Postby Shane » Wed Aug 22, 2007 8:57 am

while they aren't technically costing us money the way i understand it is the budget was worked out and then as all the castlemoyne houses weren't going to be occupied there are less people to share the overall cost with.

I had said to Adrian should the overall costs not have been reduced accordingly as they wouldn't be occupied, and he said the figures were reduced (including the management fee). Which is why I think the issue of these houses not being included has muddied the whole waters in relation to increasing our charges.

The fact is if they have the effect of increasing our charges then the fees weren't reduced enough in the overall budget and if the overall budget was reduced sufficiently then the lack of these houses being included shouldn't have been used as the reason for increased fees.

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Postby adrian.s » Wed Aug 22, 2007 2:30 pm

Shane,

I don't want to beat up on the messenger, but the whole thing sounds very suspect to me at the moment.

There's a bunch of houses that have been sold in one phase, and KPM as agents are responsible to manage them. There's a whole load of houses in phase 2 which presumably Shannon Homes are having difficultly selling, but in the meantime they want us to subsidize the cost of caring for the grounds, while they sell them. Hell, there's a security guard on the road so I can't even go for a walk to see them so why should I help pay for the maintenance :-)

I know there's claims that next years should thus be reduced when the houses are sold and they get management fees in from the new occupiers, but I don't see why we should have to stump up the money coz' the builders are finding it hard to sell their houses. Surely Shannon homes should be paying that part of the budget since the houses are after all, theirs!

Adrian.

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Postby Delilah » Thu Aug 23, 2007 8:40 am

Spoke to Adrian Muldoon yesterday and the best I can figure out is as follows.

Last Year the budget was X and this was split between say 400 units including St Samsons Sq. Court, Castlemoyne 1 and 2. Residents paid up accordingly but there was a shortfall as the budget was divided up to include all units those occupied, unoccupied and unbuilt properties (is too many units) seemingly Shannon HOmes was to cover the short fall. The budget was to cover the maintenence all properties in existence and then divided into a hypothecial number that was too large!

This year 2 things have happened 1) a number of outgoings have increased in the budget notabley ESB and a sinking fund has been added thus overall budget has increased and 2) the number of units the budget is divided between is now a realistic number and has thus reduced. Overall the result is a fee increase!

I think the letter from KPM was really unclear when in essence what they should have said was Costs have increased overall and the number of units paying fees has decreased thus Fees are on the up and PS there is nothing you can do about it!

Furthermore, and I mentioned this to Adrian, I think it dangerous to suggest that fees will reduce next year because as you point out Adrian S. there are no costs to cover on Castlemoyne Phase 2 at the moment as it is a building site! the fact that there will be increase costs here when the estate is up and running and the fact that inflation will surely mean further annual increses in ESB etc. etc. is would be optimistic to uneven think that fees will remain constant. The only random point here is that Adrian did mention the possibility of Shannon home handing the estate over to the council???? (I think Castlemoyne 1 already uses council bin services???)

Finally Adrian did suggest that this years budget was agreed by the res comm - is this the case? and if so can anyone on the committee clarify what was agreed at that time.

I am sorry if I have made a muddy situation even more confusing ....

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Postby juju » Thu Aug 23, 2007 9:13 am

Fair play, you've actually brought more clarity! Just on the ESB bill, last years amount was 10k, this years amount is 17k... i don't think inflation was 70%! :lol:

Perhaps we could do something to cut back the estate costs, for example, we don't need every light in the common area on past midnight, perhaps 1 in every 4? If circuit-wise this is not possible, we could set up lower cost lighting for use post midnight?

All of this would have to be investigated, but you get the idea!

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Postby Shee » Tue Oct 23, 2007 7:40 pm

Just wondering did anyone pay the management fee's yet or are they holding off. My first invoice was for €1100.79 and the reviewed invoice was €1,005.79 - this is for the 3 bed duplex in St Samsons Court

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Postby juju » Tue Oct 23, 2007 11:40 pm

Paid and received the full break down after the review if anyone would like it, drop me a pm


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