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Anyone starting to question how robust are our financial controls given the announcement on the unprecedented rise in property management fees and the drivers of them? Owner Week 5
Posted by newlands5
Asked on June 21, 2024 10:15 am

Can I check that contributors to this post have read the communication to all owners that accompanied notification of the management fee change with effect from 1 September 2024. Please re-read this document. This should enable everyone to conclude that the board does have robust financial controls. This document also provides some perspective relating to recent years and the cost base of UOCL.

Owners have delegated responsibility for management of the Underscar estate to the Board. Involvement of all owners in the detailed minutiae of the operations would be extremely costly (in terms of management time and related costs) and totally impractical. It would also be unlikely to reach a prompt or convenient consensus on more than very few items. Please consider the fact that there are about 850 different Underscar owners carrying a very wide spectrum of social characteristics and interests. The Board seeks to act on behalf of owners in general hoping to please most of them most of the time.

Answered On September 21, 2024 7:39 am

Perhaps owners participation in purchases that impact management fees requires review?
Decisions relating to essentials vs non essentials might be a starting point until such time as the management fees can be reduced?

Posted by annesimpson
Answered On June 22, 2024 8:18 pm