Page 12 - RBK&C Attachments 28-5-16 (77pp)

From: Fortunati, Diego - GCIB LDN diego.fortunati@baml.com Subject: Flat 9 - Service Charge and Clarifications
Date: 17 December 2015 at 16:13 To: mitrehouse@graffiti.biz
Dear Paul,
Please find a.ached confirma3on for the payment of the Service Charge 2016/1 for Flat 9.
I would appreciate if you could provide the following clarifica3ons, in a clear and concise manner, on the Forecast 2015 and Budget 2016:
1. 2.
3. 4.
Details of the expenditure for the refurbishment of Mitre House in 2015
Why general repairs have surged from 0 in 2014 to £1,150 in 2016? What do these fees refer too? Who is the supplier we are using?
Why professional fees in the budget 2016 have gone up to £1,350 from £195 in 2014 or c. 6 3mes? What professional services are we using? Who is the supplier?
I also noted the constant increase in the management fee and would appreciate an explana3ons as to why. Normally those fees are rela3vely constant over3me, eventually increasing mildly every 3 to 4 years, while you have increased them by 15% (from £4,320 to £4,995) in the last 2 years alone, well beyond even any infla3on sta3s3c
If we could cut by half each of the 4 items above (which I don’t believe is unreasonable) we could save more than to £3,700 resul3ng in more funds for the reserve or immediate savings of c. £100 per quarter per flat: more than 10% vs. today. Appreciate thoughts about it.
On the other hand well done on the savings on the li] & common parts repairs costs. I noted the reduc3on, which I assume is the result of a renego3a3on of the contract keeping the level of service unchanged.
Kindly also send me a receipt for the above payment at you earliest convenience as well as copy of the building insurance when due for renewal.
Best regards Diego
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.bankofamerica.com/emaildisclaimer. If you are not the intended recipient, please delete this message.