As suggested I have re-read the communication with owners.
Sorry but you have ignored a comparison RPI/CPI which has a comparison measure for many years relayed to owners. Can we have a comparison please? You appear to have been selective with your indices to justify the fee increase.
Was an impact assessment made on the fees when the transaction was being discussed with Sykes?

The EGM that followed the buy-out transaction set out the circumstances surrounding the buy-out transaction and the difficulties it involved. The previous arrangements prior to the buy-out were not satisfactory or sustainable. For Sykes, the FML business at Underscar was a distraction outside its core business interests – hence, Sykes did not really have our best interests at heart. As UOCL (and therefore owners) are now responsible for everything that happens on the Underscar estate it is inevitable that risks and opportunities fall to owners. Given that so little was inherited from Sykes/FML it is also inevitable that there will be a period of uncertainty whilst new opportunities are developed. As a general rule of business incurring of costs precedes the earning of income.

As regards the fee increase and inflation indices, please re-read the communication with owners. You will see that there were a number of comments relating to increases in the Underscar cost base over a number of years.

Promotion of sales and rentals which provides income for UOCL through commissions would appear an essential additional element with potential to reduce management fees.

There are still questions as to why Underscar remains hidden on google for those unfamiliar with Underscar and seeking ” five star rentals in the Lakes”, or for that matter within the marketing exchange facility of 7across (which also has the potential to incentivise sales due to flexible exchange options relating to ownership.)

Where in the new website is a cross reference to 7Across exchange facility? Has this now been discounted and have we lost our gold membership rights?

Has Time ”share” been overlooked as an incentive to purchase with inbuilt flexibility for exchange, which would appear relevant to the management fee if increases in achievable commissions could be acquired from sales.

Just a few thoughts….

For many years I was told that our fees increases were inline with inflation, not sure if RPI or CPI. It was very disappointing that the email from the new Chairman did not include that comparison. I may have missed it if it was included.

Couldn’t have put it better…it’s taken all the shine out of owning at Underscar for me at the moment and a genuine worry about future year costs not to mention the prospects of letting or selling in the current climate. Just wondering how best to respond!