Contingency funds

lushlips


Joined: 27/07/2008
Posts: 11

Message Posted:
28/07/2008 20:01

Hi



I have noticed complex maintenace companies are now asking for contingency funds for large amounts of money.



Have you all had to pay these??



I don't understand why at such an early stage of a complex we would need such a fund - as most should be under a builders guarentee??



If something on site did go wrong - then I would pay my fair share (if it had been maintained properly)



Any thoughts please from those who have brought ??



thanks

keith


Joined: 03/04/2007
Posts: 272

Message Posted:
28/07/2008 20:28

Ours as asked and i refused to pay as like you just Bill me also when you have non payers on your complex they are not going to pay so it will be just the few who do pay what site are you on we are on Sea terra

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
29/07/2008 12:00

Lushlips as you can see from Keith , he has refused to pay this fund ,no doubt other owners will do follow suit and who can blame them , the first twelve monthes owners should just contribute to maintenence the site should be handed over with all amenities in situ working and guaranteed and all owners should have assurance of this, , otherwise this fund could go on repairs to equipment that should be covered by a guarantee . A fund should then be set up the second year for possible repairs , but again owners need to be aware of buildings having a guarantee for 5 years . In my opinion in the early years the only thing that should come out of the fund is the painting of the complex .

But in answer to you're question No i personally do not think owners should pay this fund in the first year , however if owners do, make sure it is closely monitered and placed in a high interest account .and residents elected as signatures . Remember you have paid for an investment , the add ons such as maintenence , property tax, enviromental tax , are all add on expenses to you're investment . Hope this helps .

lushlips


Joined: 27/07/2008
Posts: 11

Message Posted:
29/07/2008 13:02

Thanks for the info Keith - so these companies - they cant make you pay funds that were not mentioned when first purchasing??

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
29/07/2008 13:51

No one can force you to pay anything . if it is not written in you're contract NO

ishmail


Joined: 27/06/2008
Posts: 91

Message Posted:
29/07/2008 14:07

Same 2 again

people dont give up

keith


Joined: 03/04/2007
Posts: 272

Message Posted:
29/07/2008 14:49

say again dont get what you mean

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
29/07/2008 15:36

What procedures do you have in place to try and get the non payers to pay the maintenance charges?

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
29/07/2008 17:19

No 1 Doyden

A reputable developer would have requested that on the last payment of property all purchasers would pay Maintenence as part of the course again this should be written in the contract , so strictly speaking there should be no non payers on handover of all property's , what happens after that is down to the maintenence company , but there are certain rulings that they can go through to force payment of maintenence , but again maintenence companys must be able to show that they have adhered to there part of the contract e.g furfilling obligations re keeping all on site well maintained . Hope this helps .

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
30/07/2008 16:01

Thanks PIPIE.

lushlips


Joined: 27/07/2008
Posts: 11

Message Posted:
31/07/2008 19:47

thanks pipie / keith for the info!



does anyone else have views on this??



Ismail why would a question ref a fund bother you ??

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
31/07/2008 21:37

Lushlips i think Ishmael as been rumbled good and proper so i think it is goodbye from him , thank goodness , what a weirdo .

lushlips


Joined: 27/07/2008
Posts: 11

Message Posted:
01/08/2008 13:30

Yes pipie,



I do have to question what sort of person writes such aggressive posts.



After several vicious attacks even with many warnings from the moderator he seems persistant in causing trouble.



oh well - I was warned you get people like this on forums but its a shame as most of the people on here seem sooo nice - great debates and such great info!

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
01/08/2008 18:16

Lushlips the person who posts attacks , who cannot answer direct questions and refuses to adhere to moderators request. ,is a person that will be there own downfall , just you watch .

ishmail


Joined: 27/06/2008
Posts: 91

Message Posted:
01/08/2008 20:22

lush lips you come on board as to defend you friend/family we all seen that you both ugluy and bad people A Ellis you you and lush lips working the same trick you acuse others of you are 2 faced you are known and shoud be ashaimed just you watch !!!!

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
01/08/2008 20:45

Ishmael .

Could i buy you a drink ?

ishmail


Joined: 27/06/2008
Posts: 91

Message Posted:
02/08/2008 07:23

lushlips & pipie say peoples do not anser direct questions message 2 asked a direct questoin it still to be ansered two faced or whot !!!

but-n-ben


Joined: 09/06/2008
Posts: 20

Message Posted:
02/08/2008 08:15

is it not time to put this to bed, there are many worse off, you should read the Turtle bay BB it makes horrendous reading

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
02/08/2008 09:10

ishmail.



You are clearly very uptight over something, but you refuse to say what it is, thereby depriving yourself of help, offerred by some board members.

May I suggest you would benefit by reading (carefully) No1Doyen posting Stress Management.

We all have to cope with unpleasant and unfortunate situations in life, but cope ,we do, and then move on.



wynyardman

ishmail


Joined: 27/06/2008
Posts: 91

Message Posted:
02/08/2008 16:07

Mr John we do not wish to harm you or any other good peoples but you mebbee do not understand the Turkish ways we have ansered on the other posting what our probliems is and it is only a tiny many peoples who really knows the harm caused to us and they can easy be seen for whot they are if you follows the patterns intresting to see hardly no body from turtle bay has ansered the posts that tells you all something does it not ????? punk rocker was brave enough to tell some facts but some fools call themselves pipie lushleps thinks we was refering to them they has there own silly problems but now you all knows an we will post no more

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
02/08/2008 17:17

Well that's as clear as mud .

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
03/08/2008 11:49

Pipie,



Difficult to argue with your last posting!



Presumably (reading between the lines) he and his friends were subcontractors on the

Turtle Bay site!



Seems the answer is better legislation for employees, sub contractors not

to mention long sufferring customers of property developers in the TRNC.



An ammendment to the Specific Performance Law, would be a good start!



My view, thats all.



wyn.

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
03/08/2008 12:18

Wyn , think he has lost it with alot of people on this forum , if he can't explain himself in detail , well no wonder he got the sack , all the time he has spent moaning about it he could have got himself another job and worked a week cor blimey , where does he come from , gaga land i think .

simbas



Joined: 16/07/2007
Posts: 5943

Message Posted:
03/08/2008 13:27

aw ishmail , i thought we were making a little progress , try not to become so personal it's not nice , and as passionate as to throw your good manners out of the window

have a nice day , simbas

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
03/08/2008 16:01

Simbas , right at this present moment he is probably thinking who am i today , Ishmael , Punk rocker , lazy days , we will all see on the date he joins , weirdo .