Management Fees -- Money for Nothing!!!

arealdub

New Member
Meeting

Hi everyone,
Hope as many people are able to go this meeting on tues that the mgt company have arranged. It will be very interesting I am sure to see what they have to say and indeed if Larry and Mairead Keegan turn up...somehow I doubt they will. Hopefully nobody has paid the mgt fees cause there is still a lot of explaining to come yet from the mgt company and the keegan's.
 

Barry-Red

New Member
Windmill Park Mgt. Meeting Tonight & Mgt Fees

Just to ensure people know of the time and venue for to nights meeting.

Time: 7pm
Venue: Draiocht (located in blanch shopping center - opp. blue entrance)
Date: 12-Feb-2008

It is essential for residents/owners to attend this meeting as there are some serious questions to be answered regards this years service charge.

As part of our purchase we signed a "Deed of Lease" of the property. This highlights our responsibilities as owners living in this development.

In this document it states:
the service charge is defined in the Lease as X/Y of the costs and expenses incurred in the maintenance etc of the common areas where

X is the no. of units you hold (in most cases one) and
Y is the total number of residential units now or hereafter to erected on the Estate.

As there is 146 units at present in the estate
which means we pay the fraction 1/146 of the total costs of the service fee.

I believe that 36 units remain unsold, if this is the case we are actually each paying 1.24/146. Which is not what is specified in our "Dead of Lease". We own 1 unit not 1.24 units.

This .24 difference relates to the % increase in our service fee(approx).

I am not an accountant and these figures could be off, so please forgive any glaring mathematical errors.

I do believe that service charges are essential, don't get me wrong about that. The issue is we're paying other peoples share of the cost.

I hope as many residents as possible head down to Draiocht tonight.
Regards,
Barry

PS. To gauge how many people read this forum from the Windmill development, can people sign up and just reply and say hello. It is our only medium of discussing issues in our estate apart from meetings called by the Mgt. company.
 

arealdub

New Member
Meeting

I'll be there too but the Keegan's won't be. Spoke to Beirne in Kimpton yesterday and she informed me they would not be there but gave no reason. Typical, the whole point of the meeting is to tackle them...this will be very interesting tonight.
 

spiderman

New Member
My apologies for not making it to the meeting, was abroad. I hope it was successful. If it was can someone post an update.
 

ivers57

New Member
ivers57

Just an insight into what a marvelous citizen Mr Keegan really is.
Taking from the Indo:

THE developer behind the illegal demolition of a 19th century convent in south Dublin earlier this month was involved in a company which made a record tax settlement just four years ago.

Laurence Keegan of Parkmore House, Auburn Drive in Castleknock, was a director with Lido Construction until January 2002, nine months before it made a €7m settlement with the Revenue Commissioners for under-declaring corporation tax and VAT.

As a result, Mr Keegan was restricted as a company director for five years from January 2004.

He currently acts as company secretary to Kimpton Vale Ltd, which demolished the Presentation Convent in Terenure on November 5 just weeks after Dublin City Council began a process of adding the building to the Record of Protected Structures (RPS).

The company faces fines of up to €12.7m after the council confirmed the building was illegally demolished.

The Irish Independent can reveal that in 2002 the Dublin-registered company Torose Construction paid the taxman almost €7m - of which €3.6m was interest and penalties - before going into liquidation in October that year.

Lido had changed its name to Torose the previous January, with company secretary Mr Keegan resigning at the time.

The tax settlement was the biggest ever published in the history of the State.

Lido was involved in developing a large apartment complex in Castleknock, Dublin, as well as building houses in Templelogue and in Co Wicklow.

The Companies Report 2004, from the Department of Enterprise, Trade and Employment, notes that Mr Keegan of Torose Construction Ltd is restricted as a director for five years from January 29 2004.

Mr Keegan also made a personal settlement with the Revenue Commissioners in 2002 totalling almost €84,000 for underdeclaration of income tax - of which €45,000 was interest and penalties.

He could not be contacted yesterday for comment, nor was anyone from Kimpton Vale available.

Dublin City Council must now decide what action to take against the company.It can compel Kimpton Vale to reinstate the convent building, or issue fines up to €1,900.

If the council decides to take legal action, the court can impose a fine of up to €12.7m.

It is not yet known if Kimpton Vale - which bought the three-acre site on which the convent stood for a figure reportedly over €15m earlier this year - was told that the convent was going through the process of becoming a listed building.
 

ivers57

New Member
Expansion to 210 Units

Hi,

I checked with a local TD MS Burton about how kimpton vale had been given permission to build up to 210 units when the original figure was suppose to be 136.
His appeal is still with the Bord Pleannala so i urge everybody to get onto her and other TD to voice your concerns about the expansion.

Here is her reply to my mail.

Dear Robert,
Thank you for the information.
I did some research into this and it is currently been appealed to An Bord Pleannala, Here is a link to the most recent planning application.

http://planning.fingalcoco.ie/swiftlg/apas/run/WPHAPPDETAIL.DisplayUrl?theApnID=F07A/1055

I will contact Mathew McAleese Fingal CC Planning Dept to discuss your fears.


Best regards

Joan Burton TD.
Deputy Leader of the Labour Party.
 

spiderman

New Member
Maintenance cheques payable to builder!!!

:mad: Can anyone tell me why the maintenance cheque requests are made payable to Kimpton Vale Ltd... Why would the builder be getting the maintenance cheques?
 

M_windmill

New Member
Management fee update?

Can anyone update me on the situation since the last Management meeting? I understood that a committee ws been formed and that we would receive some update from those who held the meeting (by the accountants). However, the only correspondence I have received is a reminder that the management fee is overdue!! I would appreciate an update on where things stand on this issue.
Thanks
 

arealdub

New Member
cheeky bastards!!

Hi all,
Let all be aware, am not sure what the situation is regarding if people have agreed to pay fees but I certainly haven't yet have just noticed that the smith property have debited the first instalment from the account even though I totally refused to pay and did not return the form authorising them to debit from the account. No doubt they have done this with others so check your account. First thing tomorrow, I am on the phone...that is scandalous that they can do that.
 

srkreddy

New Member
more fees that you might have known in SPM Covered/not covered

Services of a Management Agent
The primary responsibility is the funding of the Management Company, details of which are outlined in the Building lease.
Our Service Include:
• Preparation of Yearly Service Charge Budgets
• Collection and Apportionment of Service Charges
• Creditor – Checking, Approving and Payment of Creditors Invoices
• Maintaining bank accounts and reconciling statements
• Preparation of Financial Reports for Management meetings
• Liaising with Auditors regarding Financial Statements & Auditors Reports
• Issuing information and advices to new owners.
• Routine inspection by management personnel.
• Arranging routine common areas repairs and maintenance contracts.
• Attending to routine telephone enquiries & correspondence from members.
• Attendance at Bi-Annual Board Meetings and the Annual General Meeting.
• Advising the Directors/Committee in general with relation to the Lease Agreements and Management Covenants.

Other Service that are provided subject to separate charge.

• Dealing with breaches of House Rules, Car Park regulations and breaches of Covenant.
• Liaising with Surveyors/Insurer on building re-instatement valuations for insurance purposes
• Responding to Requisitions on Management Company in re-sales.
• Responding to Requests for Letter of Indemnity
• Project Managing major renewals, refurbishment and new works
• Healthy & Safety Statement
• Dealing with Local Authority and adjoining property owners
• Assisting Neighbourhood Watch and Residents Associations and Community Projects (e.g. distribution of circulars, newsletters etc.)
• Dealing with professional and technical advisors (engineers and architects etc)
 

srkreddy

New Member
Now i am sure why SPM is more intrested in other activies of the Development .. like the Clamping , fining for the keeping cloths on the back rail , getting photo evidance .. wow .. what an ideas
 
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