I'm an owner occupier of an apartment in a small development of 16 units, made up of 8 units per block. I have never bothered attending an AGM before but will go next week to voice my concerns and dissatisfaction with certain issues. The main ones being:
1. I believe 6 of the units are not paying mgmt fees and want to demand that more be done to pressurize the owners.
2. The blocks need an external coat of paint but the word is there is no cash.
3. Furnished accounts for last year show stationary costs of €1000. A couple of letters are posted out per year and the accounts info once per year. Why can't they be dropped in etc....does paper really cost that much? I want clarification on this. A grand may not get the paint job done would be a good start.
The AGM will also discuss a new director being appointed. I don't want to make a show of myself but I want my voice heard without taking over the meeting.
Not sure what my question is now.....just ask them for answers is it?
Cheers
No doubt the budget or 2014 will provide insight into where the money gets spent. Block insurance being a priority and things like fire alarms, sinking funds, accounting, admin, CRO fee's, auditor being of a priority before the nice finishing touches like the flowers and paint which are the bits everyone want to see can be paid for.
Do you have an agent or is it directly managed (something that is becoming more popular nowadays as directors/residents take control of their developments and future.)
what is the arrears total? have your common areas been transferred?
We have 200+ units and our admin costs run at around €500 inc. postage.
Its understandable that people are angry but try to ask yourself what the solutions are? Is it enough just to complain? I'm sure that the directors are aware of the problems as will be most people. It is the creation of viable and workable solutions that is the challenge.
In terms of alternatives like dropping in letters who does all this work? There are a lot of directors that will invest hundreds of hours for free as its an unpaid position but people forget the scale of the work required and often believe that the fairies just do everything.
The workload of a director is like an iceberg from my experience. Over 90% lies below the surface making endless phone calls, getting quotes, writing letters, doing accounts, arranging meetings, dealing with problems and issues and regulations etc. An almost endless list of jobs many of which are recurring and unless your there next to them go unseen and un-thanked.
So; great that you are taking an interest in your company. But remember that the strength of that company lies in the collective power of its members to work together to achieve specific goals.
In terms of unpaid fee's these could be distressed properties or just genuine people in hardship or strategic 'players'. What does the development make up in terms of common areas and services allow you to do in terms of applying pressure. Is parking control an option?
If a person has lost their job and has no money then taking them to court to get a judgement may make no sense if they have money to pay you. The cost to get a forced sale or rent receiver which are additional steps are also cost hungry exercises and may not yield results. The directors may be saving money by not throwing thousands into legal holes where no recovery may be viable. Of course they may just have no balls or more likely no money as with reduced units there is no economy of scale and likely no money to invest in such a process.
I always find most anger stems from people having limited understanding of how the overall management company process works. Its not a perfect system even with the MUD act and in my opinion not enough power is in the hands of the company in particular with respect to service fee dodgers. There should be a simpler, quicker process where members fail to pay.