Page 1001 - (A) Mammoth (998pp)

MHManagement Ltd_leaseholders letter_ MASTER (NEW) Colour l/h 05/10/2011 14:16 Page 2
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The alternative is simply to hire new Managing Agents and face the inevitable overcharging and incompetence we've come to endure from KFH to date and probably will experience with new Agents, whoever they might be. It should also be appreciated that the cost of the service charges relate far more to the live-in tenants as they pay from taxed income, whereas sub-letting leaseholders have the benefit of both a rental income and service charges are tax deductible. And any damage caused by incoming and outgoing tenants, builders refurbishment damage etc to lift and common parts will be charged at cost for repair to respective leaseholders - there's no point having a newly decorated common parts if the walls, floor and lift are instantly and constantly damaged by various removers and builders damage - as is well evidenced at present. It canʼt really be avoided but reparations will be done and charged to respective flat owners whoever they may be, including the new Landlords -
Just so you can get an idea of the financial situation to date (or actually to 31st Dec 2010 - last set of audited accounts from KFH) - I attach the following pdf docs:
A_ KFH letter outlining 2011 budgets - note £15,000 to reserves
B_ KFH Service Charge budget for 2011 - incl. 15k reserves -
C_ a page from last years (to 31st Dec 2010) audited accounts showing £54,312 in bank - add on the 15k they are taking off us this year ending 31st Dec 2011 and we'll have a war chest of nearly £70,000 - BUT - well overdue internal decorations looming in Spring 2012, followed by the the worst, the externals, the following year approx - they are generally very expensive!
And finally in a second email, the letterheads of both the new Landlord Management company (not the Managing Agents company, that will have to be formed if we go ahead) and the Resident's Association. If you have any worries regarding the Residents Association letterhead (your name etc) - let me know and I'll fix. We will also have a www.mitrehouse.org and an email but neither will be up and running until I've done it by Christmas - but when done, it'll be very useful to keep in contact, complain, lodge comments, rent or sell flats, etc.
So, please have a good peruse and let me know your thoughts, (Flat 7) Paul Brown-Constable on studio@graffiti.biz which can also be copied to the other three directors of Mitre House Management Limited if you wish to, namely: (Flat 2) Segar Karupiah on segar_9@hotmail.com, (Flat 6) Jamil Raja on J.Raja@jraja.co.uk, and (Flat 5) Michele Hillgarth on michele@hillgarthart.com
If anyone has any good contacts, influence or skills on any aspect of the upkeep and management of Mitre House, now's the time to speak up. Be that Insurance, Maintenance, Builders, Accounting, Legal, Cleaning, Lift Maintenance, Secretarial etc - anything to reduce our costs to an absolute minimum but maintaining a first class service - it can be done if we all pull together to vastly improve our environment at Mitre House and in turn, substantially increase the value of our respective flats. Flat 1 is in the process of being sold for £625,000..... not bad in the present crisis.
Thanks and good luck to us all, with or without a newly appointed outside Managing Agent - your choice - Paul